Dubai DFSA cuts cryptocurrency recognition fees to $5,000

The Dubai Financial Services Authority (DFSA) has announced changes to the cryptocurrency regime, reducing the fee for recognition from the previous $10,000 per token to $5,000. The amendments aim to enhance the regulatory framework for tokens within the UAE's special economic zones. The amendments also allow domestic investor funds to invest in unrecognized tokens, subject to exposure of no more than 10% of the fund's total assets. DFSA CEO Ian Johnston said the change was not meant to ease regulation, but to better promote innovation.