Khaberni - Issued in the official gazette on Tuesday, the licensing system for virtual asset service providers number (94) for the year 2025.
The system was issued pursuant to Article (7) of the Virtual Asset Transactions Regulation Law number (14) for the year 2025.
The following are the articles of the system:
Article 1 This system shall be named the Licensing System for Virtual Asset Service Providers for the year 2025 and shall come into effect thirty days after its publication in the official gazette.
Article 2 - A - The following words and phrases, wherever they appear in this system, shall have the meanings assigned to them below unless the context indicates otherwise: -
The Law: The Virtual Asset Transactions Regulation Law.
The Authority: The Securities Authority.
The Board: The Board of Commissioners of the Authority.
The President: The President of the Board.
The License: The approval granted by the Authority to practice any of the virtual assets activities in accordance with the provisions of this system.
Virtual Asset Service Provider: The corporate entity that engages on behalf of others or acts for a third party in one or more virtual asset activities.
