Abu Dhabi, UAE – 22nd September, 2026 – The MENA Fintech Association has released its latest Bi-Annual Regulatory Update Session report, providing members and the wider financial services industry with insights into the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority’s (FSRA) latest regulatory priorities, market developments, and forthcoming initiatives across digital assets and financial services.
The report follows MFTA’s Policy & Regulations Working Group participation in the FSRA Bi-Annual Regulatory Update Session held on 19 May 2026, led by members of the FSRA Policy & Legal team, Lawrence Paramasivam and Margaret Devaney. The session was moderated by Christine Assali, Co-Chair of the MFTA Policy & Regulations Working Group, and brought together approximately 20 representatives from MFTA member firms across the fintech and digital assets ecosystem.
The report provides an overview of how ADGM’s digital asset ecosystem has evolved from a predominantly institutional market focused on custody and price exposure into a broader and increasingly sophisticated financial ecosystem. It highlights developments across tokenised assets, structured products, staking, lending and borrowing, and the growing infrastructure supporting regulated digital asset businesses.
A key area highlighted in the report is the expansion of the virtual asset ecosystem within ADGM. Regulated entities are now engaging with a broader universe of virtual assets, while the development of independent custodians, brokerage venues, staking providers, security assessors, compliance providers, and transaction monitoring solutions is helping reduce barriers to entry and supporting more sophisticated operating models.
The report also examines the FSRA’s evolving regulatory frameworks around fiat-referenced tokens (FRTs), including the accepted FRT framework and the distinction between virtual assets and payment instruments. It further covers developments relating to staking activities, custody, financial crime controls, technology risk, market integrity, and the FSRA’s supervisory approach.
Beyond digital assets, the update provides insights into a number of emerging regulatory themes, including AI in regulated entities, tokenisation and TradFi convergence, cross-border regulatory coordination and harmonisation, and the potential implications of quantum computing for financial services.
The report reflects MFTA’s continued focus on creating practical channels for regulatory dialogue between policymakers, regulators, financial institutions, fintechs, and digital asset businesses. By translating regulatory discussions into accessible industry intelligence, the Association aims to help its network better understand evolving requirements and prepare for developments shaping the financial services landscape.
Nameer Khan, Chairman of the MENA Fintech Association and Founder of Fils, added:
“Regulatory clarity is fundamental to the sustainable development of financial innovation. Our ongoing engagement with regulators such as the FSRA provides the industry with an important opportunity to understand how regulatory frameworks are evolving alongside new technologies, business models, and market infrastructure. Through initiatives such as these regulatory update sessions, MFTA continues to strengthen the dialogue between regulators and the private sector and support a more informed, responsible, and forward-looking fintech ecosystem across MENA.”
The report also reflects MFTA’s appreciation for the FSRA’s continued engagement and openness to substantive dialogue with industry participants. MFTA thanked Lawrence Paramasivam, Margaret Devaney, Brian Byagaba, Monique Elgin, and John Hermann for their participation and contribution to the session.
As digital assets, tokenisation, AI, and emerging financial technologies continue to develop, MFTA will continue to convene regulatory and industry stakeholders to support greater clarity, knowledge exchange, and policy-aligned innovation across the region.
About the MENA Fintech Association
The MENA Fintech Association (MFTA) is an inclusive, not-for-profit organization dedicated to promoting open dialogue and innovation within the MENA fintech ecosystem. MFTA supports a diverse network of fintech startups, SMEs, financial institutions, technology companies, investors, regulators, and industry leaders, serving as a trusted platform to shape policy, foster collaboration, and accelerate the future of finance across the region.
Financial Services Regulatory Authority – Bi-Annual Regulatory Update Session:
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