Final FSRA framework expanding the regulatory treatment of Fiat-Referenced Tokens beyond issuance to broader regulated activities and client-asset handling.
ADGM Regulated Activities Involving Fiat-Referenced Tokens — 2026 Framework
ADGM Financial Services Regulatory Authority (FSRA)
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Final FSRA framework expanding the regulatory treatment of Fiat-Referenced Tokens beyond issuance to broader regulated activities and client-asset handling.
What this record means
A concise reading of the structured evidence, written for practical decision-making.
ADGM Authorised Persons conducting regulated activities involving Fiat-Referenced Tokens, including firms holding or controlling client FRTs and FRT issuers.
Confirm whether relevant FRTs are accepted, map regulated activities and permissions, and implement applicable client-asset and issuer requirements.
Important evidence or freshness checks are incomplete.
How the assessment is supported
- Primary evidence linked1 official source is attached.
- Freshness checkChecked 29 days ago.
- Editorial publication gateThis public version passed the system publication requirements.
- Material changes preservedNo material update has been recorded after the baseline.
Primary sourceLinked evidence on adgm.com
Editorial checkReviewed September 23, 2026
Next triggerRegulatory status should be checked on a shorter cycle
How this record connects
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What the rule currently means
verified
digital-asset-framework
ADGM
digital-assets
in-force
October 31, 2025
January 1, 2026
ADGM Authorised Persons conducting regulated activities involving Fiat-Referenced Tokens, including firms holding or controlling client FRTs and FRT issuers.
Defines the FSRA approach to accepting FRTs, expands the regulated activities that may involve FRTs and sets requirements for firms holding or controlling client FRTs while amending certain issuer obligations.
Confirm whether relevant FRTs are accepted, map regulated activities and permissions, and implement applicable client-asset and issuer requirements.
Using non-accepted FRTs or failing client-asset, issuer or permission requirements can create digital-asset regulatory exposure.
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