📝 Jordan's Initiative for Digital Asset Regulation
🇯🇴 The Jordanian government has approved a plan to establish a comprehensive regulatory framework for digital assets within a year. This initiative aims to align Jordan's regulations with global standards and promote a robust digital economy. Prime Minister Jafar Hassan chaired the meeting that led to this decision.
📜 The government has directed the Jordan Securities Commission (JSC) to outline requirements for entities involved in virtual assets. The commission is tasked with developing a legal and technical infrastructure for licensing and regulating global trading platforms. A JSC study emphasized the importance of a framework focused on combating financial crimes.
🔗 This move comes a month after Jordan approved its blockchain policy, which aligns with its Economic Modernization Vision. This vision aims to enhance service sectors, support national development, and increase service exports. Jordan believes that leveraging blockchain technology can boost citizens' confidence in government services.
🌍 Through this regulatory framework, Jordan aims to improve its competitiveness in regional and global markets while creating opportunities for local entrepreneurs. A ministerial committee has been established to address potential challenges and oversee the regulatory process. The committee will be chaired by the minister of digital economy and entrepreneurship and will include officials from the JSC, the central bank, and the National Cybersecurity Center.