Qatar Launches a New Regulatory Framework for Digital Assets

The Qatar Financial Centre, located in Doha, Qatar and designated as a special economic zone, has recently announced a regulatory framework for digital assets in response to the increasing cryptocurrency activities in the region.

Named the “QFC Digital Assets Framework 2024,” this legal framework aims to bring more clarity and establish the necessary regulations for crypto assets such as tokenization, property rights, custody arrangements, and transfer and exchange.

The QFC’s statement, released on Sunday, states that the framework also recognizes the legality of smart contracts.

The QFC emphasizes that the framework has been created after thorough discussion and consultation with a group of 37 local and international organizations.