Qatar’s central bank governor believes that the framework will bring opportunities to the country’s financial sector.
The Qatar Financial Centre (QFC), a business center based in Doha, Qatar, has released a comprehensive regime for regulating and creating digital assets.
The QFC’s regulators — the Qatar Financial Centre Authority (QFCA) and Qatar Financial Centre Regulatory Authority (QFCRA) — announced a framework that establishes a foundation for digital assets in the QFC.
The rules include tokenization processes and the legal recognition of property rights in tokens and underlying assets, custody arrangements, transfer and exchange. In addition, the framework has provisions for the legal recognition of smart contracts.
