On September 1, 2024, Qatar announced a significant development in its financial sector with the introduction of the QFC Digital Assets Framework. This framework, established by the Qatar Financial Centre Authority (QFCA) and the Qatar Financial Centre Regulatory Authority (QFCRA), sets new legal and regulatory standards for digital assets in the Qatar Financial Centre (QFC).

The framework provides the foundation for digital asset activities such as tokenization, legal recognition of tokens and their underlying assets, and custody and transfer services. Additionally, it includes provisions for the legal recognition of smart contract.

This initiative is part of Qatar’s broader Third Financial Sector Strategy, which aims to position the country as a hub for digital finance by fostering innovation and ensuring a secure and transparent digital asset ecosystem.

The framework has attracted over 20 startups to the QFC Digital Assets Lab, a space for fintech companies to test and launch their products and services.

Regulatory clarity is expected to attract domestic and international businesses to Qatar, further enhancing the competitiveness of its financial services sector​.

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