According to Odaily, Qatar is undergoing a significant shift in its stance on cryptocurrencies, moving towards establishing a comprehensive regulatory framework for digital assets. In 2018, Qatar had imposed a ban on Bitcoin trading. However, the country is now cautiously reconsidering its approach to digital currencies. Last year, Qatar’s financial regulatory authorities introduced a framework aimed at regulating investment tokens backed by tangible assets. This initiative is a collaborative effort between the Qatar Financial Centre Regulatory Authority (QFCRA) and the Qatar Financial Centre Authority (QFCA), designed to support Qatar’s digital economy strategy. The authorities are seeking industry feedback to refine the proposed regulations, with the final legislation expected to be enacted in the fourth quarter of 2024. Additionally, the Qatar Financial Centre has established a Digital Asset Lab to foster innovation in the financial and digital asset sectors.
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