1.1. Application of these Rules

These Rules, which may be cited as the AIFC Rules on Digital Asset Activities (“DAA”), apply to a Person carrying out, in or from the AIFC, the following Regulated Activities in relation to Digital Assets:

(a)            Dealing in Investments as Principal;

(b)            Dealing in Investments as Agent;

(c)            Managing Investments;

(d)            Managing a Collective Investment Scheme;

(e)            Providing Custody;

(f)             Arranging Custody;

(g)            Advising on Investments;

(h)            Arranging Deals in Investments;

(i)             Providing Money Services; and

(j)             Operating a Digital Asset Trading Facility.

 

 

Guidance:

The following activities do not constitute Operating a Digital Asset Business:

(a) trading of Digital Assets for the Person’s own investment purposes, where such trading is not carried out by way of business; or

(b) any other activity or arrangement that is deemed by the AFSA to not constitute Operating a Digital Asset business, where necessary and appropriate in order for the AFSA to pursue its objectives.