The Dubai Financial Services Authority (DFSA) has announced some key reforms to its cryptocurrency regime by publishing a statement.

According to Amac News: The DFSA said the changes stemmed from proposals set out in "Consultation Paper 153 - Updates to the Cryptography Regime" published in January 2024.
The DFSA added that these changes are an important step in refining and improving the regulatory environment for cryptocurrencies in the Dubai International Financial Center (DIFC).
The amendments address financial crimes through financial crime compliance guidelines, including the application of the "travel rule", transaction monitoring and blockchain analysis, cryptographic detection and cryptographic detection fees.
These changes are based on recent market developments, recommendations from international standard setters and the DFSA's regulatory experience.
Over the past two years, the DFSA has engaged with more than 100 companies seeking licenses and gained valuable insight into market dynamics and regulatory needs.