Abu Dhabi, UAE: – The Financial Services Regulatory Authority (FSRA) of ADGM and the Bermuda Monetary Authority (BMA) announced the signing of a joint Digital Assets Memorandum of Understanding (MoU).

The MoU creates a framework enabling the collaboration between the BMA and the FSRA to support the establishment of digital assets entities across their jurisdictions and ensure their effective supervision. This framework encompasses regulatory and supervisory cooperation, investigative assistance and capacity enhancement initiatives.

The BMA’s Chief Executive Officer, Craig Swan, stated: “The agreement with the FSRA marks a significant step in strengthening links between regulators, supporting innovation and enhancing capabilities and resources through international collaboration. This MoU leverages the stability and expertise of our markets to address the evolving needs of the digital asset business sector. We look forward to greater knowledge exchange and deeper regulatory cooperation to encourage a secure and sustainable growth environment.”

Emmanuel Givanakis, CEO of the FSRA of ADGM said, “The signing of the MoU underlines our dedication to cooperation and the exchange of information between ADGM FSRA and BMA. Both jurisdictions share a mutual commitment to driving responsible innovation for the digital asset landscape. Through this agreement, we aim to foster the creation and effective oversight of digital asset businesses across both jurisdictions and pave the way for greater regulatory harmonization, enhanced integrity and efficiency as well as prudent industry growth.”

The MoU, which was entered into earlier this year with immediate effect, extends to further areas of cooperation including publications and media content, supervisory colleges, working groups and training.

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About Abu Dhabi Global Market (ADGM)

Abu Dhabi Global Market (ADGM) is the international financial centre (IFC) of the capital city of the United Arab Emirates, which opened for business on 21 October 2015. ADGM augments Abu Dhabi’s position as a leading financial centre and a business hub serving as a strategic link between the growing economies of the Middle East, Africa, South Asia, and the rest of the world.

Operating within an international regulatory framework based on the direct application of English Common Law, ADGM governs the entirety of Al Maryah Island and Al Reem Island collectively designated as the financial free zone of Abu Dhabi.

ADGM is ranked as one of the most preferred and top-ranking IFCs in the Middle East and Africa region and named MENA’s largest Fintech hub. Its progressive and inclusive business ecosystem gravitates toward global financial and non-financial institutions whilst leveraging synergies between ADGM and multiple jurisdictions positioned as one of the world’s most advanced, diverse, and progressively governed financial hubs.

For more details on ADGM, please visit www.adgm.com or follow us on Twitter and Instagram: @adglobalmarket and LinkedIn: @Abu Dhabi Global Market (ADGM)

For media queries please contact: 
Simon Hailes 
Managing Director Middle East  
Edelman Smithfield
E: simon.hailes@edelmansmithfield.com  

Kaja Mhisen
Corporate Communications, ADGM 
E: media@adgm.com

Bermuda Monetary Authority

Media Contact: Marianne Suschak-Matvey, Director, Corporate Affairs; Direct line: (441) 278-0642; E-mail: msmatvey@bma.bm.