73B. Operating a Crypto Asset Business

(1) Operating a Crypto Asset Business is a specified kind of activity.
(2) Operating a Crypto Asset Business involves undertaking one or more Crypto Asset activities in or from the Abu Dhabi Global Market.
(3) For the purposes of sub-paragraph (2), Crypto Asset activities include—
(a) Buying, Selling or exercising any right in Accepted Crypto Assets (whether as principal or agent);
(b) managing Accepted Crypto Assets belonging to another person;
(c) making arrangements with a view to another person (whether as principal or agent) Buying, Selling or providing custody of Accepted Crypto Assets;
(d) marketing of Accepted Crypto Assets;
(e) advising on the merits of Buying or Selling of Accepted Crypto Assets or any rights conferred by such Buying or Selling; or
(f) operating -
(i) a Crypto Asset Exchange; or
(ii) as a Crypto Asset Custodian.
(4) In sub-paragraph 3(f)(i), operating a Crypto Asset Exchange means the trading, conversion or exchange of -
(a) Fiat Currency or other value into Accepted Crypto Assets;
(b) Accepted Crypto Assets into Fiat Currency or other value; or
(c) one Accepted Crypto Asset into another Accepted Crypto Asset.
(5) In sub-paragraph 3(f)(ii), operating as a Crypto Asset Custodian involves -
(a) safeguarding, storing, holding or maintaining custody of Accepted Crypto Assets belonging to another person; or
(b) controlling or administering Accepted Crypto Assets for the purpose of sub-paragraph 5(a).
Amended on June 25, 2018