GDF is supportive of the aim of proposals, as well as Jordan’s broader aims to build and develop a comprehensive regime for virtual assets. It is a welcome step forward, and GDF also appreciates the consideration of evolving global regulation.
In collaboration with our members, GDF has aimed to provide feedback and suggested key themes that would be beneficial for consideration as the Jordanian public sector builds out these proposals. The key themes are identified below:
1. Clarifying the scope of virtual asset regulation is essential to address gaps in taxonomy and the treatment of other categories of virtual assets.
2. Licensing and listing requirements should be calibrated to service providers, with clarity on foreign entities and listing standards while supporting local partnerships.
3. Supervision should be proportionate and risk-based, taking into account the size and complexity of the licensed entity.
4. Capital Requirements Should Be Proportionate and Operational Requirements Should Promote Clarity, Proportionality, and Market Competitiveness.
5. Additional considerations for fiat-referenced virtual assets to avoid duplicative obligations for issuers.
And then we will need two buttons. One that reads ‘Read our Response in Arabic’ and one that says ‘Read our Response in English’. Arabic response should be PDF that says AR, english is the attachment that says EN
Read our Response in English