Oman Invites Bids From Firms Interested in Creating Regulatory Framework for Virtual Assets

Authorities within the Middle Eastern state of Oman have requested specialised firms, excited about serving to the nation arrange a regulatory framework for digital belongings, to submit their proposals. Interested firms must submit their proposals no later than March 23, 2022.

Process Divided Into Two Phases

The Oman monetary regulator, the Capital Markets Authority (CMA), lately invited firms excited about serving to it arrange a regulatory framework for digital belongings to take part in a young course of.

According to a report by Unlock Media, this course of of making the regulatory framework might be divided into two phases. The first half will determine and set out the legislative and regulatory framework required for the regulation of digital belongings. It may also set up the right safeguards for buyers.

The subsequent part, in line with the report, will contain coaching and technical assist for the CMA in addition to creating the work manuals types. Meanwhile, in a screenshot of the tender commercial shared by a Twitter person, the CMA asks “specialised” firms that want to take part within the tender course of to pay a young and to submit the required paperwork which embrace a duplicate of the industrial registration certificates.

Crypto Taskforce

The CMA’s floating of the tender comes a number of months after the nation’s central financial institution warned Oman residents of the dangers of cryptocurrency buying and selling. The tender invitation additionally comes practically 4 months after the central financial institution’s launch of a task force mandated with learning the professionals and cons of authorizing using cryptocurrencies.

According to the tender commercial, firms must file their proposals on or earlier than March 23, 2022.

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