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  4. Bermuda Monetary Authority and Abu Dhabi Global Market sign digital assets agreement

Bermuda Monetary Authority and Abu Dhabi Global Market sign digital assets agreement

14 Aug 2024
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On 10 June 2024, the Bermuda Monetary Authority (BMA) and the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) have signed a Digital Assets Memorandum of Understanding (MoU). This agreement sets a framework for collaboration between the BMA and FSRA to support digital asset entities and ensure effective supervision.

The MoU includes regulatory and supervisory cooperation, investigative assistance, and capacity-building initiatives. BMA CEO Craig Swan emphasised that this partnership strengthens regulatory links, supports innovation and leverages market stability to meet the needs of the digital asset sector.

Effective from 11 January 2024, the MoU also covers cooperation in publications, media content, supervisory colleges, working groups and training.

BMA’s press release can be found here and here.

Authors
Aki Corsoni Husain Harneys front portrait image on a grey background
Aki Corsoni-Husain
Partner | Regulatory & Tax | London
Henry Tucker Harneys front portrait image on a grey background
Henry Tucker
Partner | Dispute Resolution | Bermuda
Mirza Manraj Harneys front portrait image on a grey background
Mirza Manraj
Counsel | Regulatory & Tax | Hong Kong