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The Abu Dhabi Securities Exchange has released a thought paper heavily discusing cryptocurrencies and blockchain solutions. The securities trading platform has outlined the criteria of issueing cryptos and suggested that its current systems will be upgraded to a modern blockchain based system leveraging on blockchain’s Distributed Ledger Technology (DLT).

ADX move to boost cryptos mass adoption

The blockchain related initiatives being explored by the ADX is a good sign for the crypto industry considering the rampant persecutions the industry has been getting lately. Looking at the news from the United Arabs Emirates (UAE), it is not further from the truth to assume that the region is positioning itself to be the next cryptos haven.

Launch ICOs to capital markets

Early this year the UAE national securities watchdog hinted on plans to introduce Initial coins offerings (ICOs) to the capital market by 2019. This would give traditional investors in securities an opportunity to join the cryptocurrency bandwagon as well as introducing new crypto-savvy investors to its trading portfolio.

This is in contrast to what counterparts like China, South Korea and India are doing. The Asian tigers are still reluctant to joining the cryptos space especially because the industry is largely unregulated. China in particular has warned its citizens against indulging in digital assets due to the assets’ high volatility, digital theft, the possibility that cryptos could be used to fund terrorism and obviously cryptos’ use as a money-laundering tool.

China is also concerned that some nations could use cryptos to evade economic sanctions imposed on them because the coin can hardly be controlled by state regulations.

UAE’s State News Agency WAM reported that the thought paper by ADX was developed through a collaborative effort with the Central Securities Depositories and was aimed at eastablishing a legal framework that will inform the process of tokens issuance among other cryptos related dealings.

ADX’s CEO Rashed Al Blooshi, commenting about the publication explained that ADX will first tranform to a DLT-powered system and develop strong guidelines that will be followed for ICOs issuance. When the plans are implemented, the platform will attract more clients as well as provide more services to existing investors as earlier mentioned.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.

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