NFT News Official TheBitTimes.com

Abu Dhabi introduces a trailblazing DLT regulatory framework, setting global standards for blockchain foundations and DAOs. Abu Dhabi Global Market (ADGM) has unveiled the Distributed Ledger Technology (DLT) Foundations Regulations 2023, establishing a pioneering legislative structure for blockchain and DAOs. The Registration Authority of ADGM announced that these regulations will help to bolster the blockchain and Web3 sector, thereby propelling the region and ADGM into the forefront of digital asset regulation . The DLT Foundations Regulations have been crafted to specifically address the complexities of the blockchain ecosystem, allowing for the operation and issuance of tokens by DAOs and blockchain foundations. In this regard, the UAE stands as the world’s first, setting a high bar for regulatory frameworks globally.  You might also like: Tellor account compromised after price surge ADGM emphasized that these regulations are critical as Abu Dhabi has rapidly bec...

The European Union (EU) is making progress on the European Data Act, despite facing criticism from the cryptocurrency community, as lawmakers have reached an agreement to proceed with the legislation. The E.U.’s Commissioner for Internal Markets, Thierry Breton, confirmed the deal in a June 27 tweet, describing it as a significant milestone in reshaping the digital landscape. The incorporation of reset options The introduction of new E.U. legislation has raised concerns among crypto proponents, as it is believed that the regulations could compel smart contract developers to incorporate reset options for transaction termination or interruption.  Another deal! ⁰Tonight’s agreement on the #DataAct is a milestone in reshaping the digital space. Thanks to the swift work of the EP @delcastillop & the Council Presidency, we are on the way of a thriving data economy that is innovative & open — on our conditions. pic.twitter.com/vTWUU8xTx9 — Thierry Breton (@Thierr...