Consultation Paper on the proposed AIFC Stablecoin Framework

AFSA has issued the Consultation Paper on the proposed AIFC Stablecoin Framework (“Framework”) to seek suggestions from the market. The Consultation Paper is available via this link https://orderly.myafsa.com/articles/consultation-paper-on-the-proposed-aifc-stablecoin-framework.

The Framework comprises draft Rules applicable to Authorised Firms Providing Money Services in relation to Digital Assets and issuance of Fiat stablecoins.

The Consultation Paper consists of:
Part I – Background;
Part II – Proposals;
Part III – Public Consultation Questions;
Annex 1 – Draft Rules Applicable to Authorised Firms Providing Money Services in relation to Digital Assets and Issuance of Fiat Stablecoins.

During the public consultation, both existing and potential market participants are invited to comment on the questions outlined in Part III of the Consultation Paper.

The deadline for providing comments is 15 September 2023. Once we receive your comments, we shall consider if any refinements are required to this proposal.

AFSA prefers to receive comments by email at [email protected].