tl;dr
Jordan has launched an initiative to establish a comprehensive regulatory framework for digital assets, aiming to align its standards with global practices to boost the country’s digital economy. Prime Minister Jafar Hassan chaired a Cabinet meeting focusing on emerging technologies, which approved ...
Jordan joins global push for digital asset regulation Jordan has launched an initiative to establish a comprehensive regulatory framework for digital assets, intending to boost the country's digital economy and align with global standards.
Prime Minister Jafar Hassan chaired a Cabinet meeting focused on emerging technologies, which approved the plan. The Jordan Securities Commission will develop requirements for virtual asset service providers (VASPs) and oversee the issuance of licenses.
This move is part of Jordan’s Economic Modernization Vision and follows a recent plan to integrate blockchain into public service operations.
The region has seen significant digital asset transaction volume, with Jordan aiming to establish itself as a leader in comprehensive regulation.
With digital assets becoming one of the fastest-growing tech sectors, regulating the industry will allow Jordan to compete with other global hubs and attract investment.
Experts say Jordan can save up to $5 billion by integrating blockchain into government operations.
The region received $338 billion in the year ending June 2024, accounting for 7.5% of all global digital asset transaction volume, with Turkey remaining the regional digital asset leader.
Jordan joins other Middle Eastern nations in pushing for blockchain and digital asset adoption, presenting a prime opportunity to establish itself as the first with a comprehensive framework.