Public Key

Regulating the Future: ADGM's Blueprint for Decentralization


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If you are an active listener of this podcast, guests keep coming to this word decentralization.  But the definition of decentralization is quite vague at the moment, with some companies using this term to avoid regulatory compliance oversight and others wanting to create a legal framework that  allows for token issuance,  smart contract enabled governance and prescribing token holder rights.


In this episode, Ian Andrews (CMO, Chainalysis) tries to get more clarity on what decentralization really means to regulators, as he speaks to Dmitry Fedotov, who is Head of DLT Foundations Oversight at ADGM, the Abu Dhabi regulators who created the world’s first framework for blockchain foundations, DAOs and web3 entities.

His journey as an entrepreneur served him well as he transitioned to the regulators, even his first days working for the Virtual Assets Regulatory Authority (VARA), when the FTX collapsed and he had to provide a better understanding of the events to both the public and private sector.

Dmitry and Ian talk about what decentralization really means and how the ADGM created the  world’s first purpose-built framework for blockchain foundations,DAOs and web3 entities, offering regulatory clarity and legal frameworks that are attracting global entities and fostering innovation in the blockchain space. 

Minute-by-minute episode breakdown

2 | Dmitry’s early days of AI, decentralized system and buying Bitcoin in 2014

6 | From Bitcoin enthusiast and entrepreneur to Dubai’s Virtual Asset Regulatory Authority (VARA) 

8 | Introducing the world's first purpose built framework for blockchain foundations, DAOs and web3 entities

13 | Blockchain Foundation’s journey to becoming fully decentralized autonomous organizations (DAOs)

16 | Progressive decentralization in blockchain and the regulatory challenges that ensue

19 | DAOs: To regulate or not to regulate that is the question 

22 | What are the limitations of the EU MiCA regulations for Virtual Asset Service Providers (VASPs)

26 | Why Hacken and other DLT focused companies are eyeing ADGM as their new headquarters 

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

  • Website: ADGM: The Financial Centre of Abu Dhabi
  • Framework:  World’s First Framework for Blockchain Foundations, DAOs, and Web3 Entities
  • Regulation: ADGM: Distributed Ledger Technology Foundations Regulations
  • Guidance: ADGM: Guidance on Permitted Activities for DLT Foundations
  • Article: Cointelegraph: Tether plans to launch dirham stablecoin with UAE partners
  • Announcement: ADGM, Hacken partner to set new benchmarks for blockchain security and compliance
  • Blog: Middle East & North Africa: Regulatory Momentum and DeFi Fuel Adoption
  • Blog: OFAC Designates Russian Exchange Cryptex and Fraud Shop Facilitator UAPS, FinCEN names PM2BTC
  • YouTube: Chainalysis YouTube page
  • Twitter: Chainalysis Twitter: Building trust in blockchain
  • Speakers on today’s episode
    • Ian Andrews *Host* (Chief Marketing Officer, Chainalysis) 
  • Dmitry Fedotov (Head of DLT Foundations Oversight, ADGM)
  • This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

    Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

    Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

    Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.

     

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    Public KeyBy Chainalysis

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