The Capital Market Authority of the Sultanate of Oman (CMA), which regulates and develops Oman’s financial markets, has announced its plans to create a new regulatory framework for virtual assets (VA) and virtual asset service providers (VASPs).
The CMA is developing a regulatory framework that will include a new regulation covering all VA activities, a licensing system for all VASP categories, and an oversight system to identify, assess and mitigate risks.
The new regulatory framework is expected to cover activities such as crypto assets, tokens, crypto exchanges, and initial coin offerings.