Jordan plans to develop comprehensive virtual and digital asset regulatory framework within a year

Odaily Planet Daily News Jordan announced plans to develop a comprehensive virtual and digital asset regulatory framework within a year, aiming to align with global standards and promote the development of its digital economy. The plan will be led by the Jordan Securities Commission (JSC) and supported by the National Future Technology Committee, focusing on creating the necessary legal and technical infrastructure to oversee crypto trading platforms and virtual asset activities.
The Ministerial Committee, led by the Minister of Digital Economy and Entrepreneurship, will manage challenges and guide the implementation of these regulations. The committee is composed of officials from the country's central bank, JSC and National Cybersecurity Center. The move comes as Jordan seeks to address loopholes pointed out by the Financial Action Task Force (FATF). The task force placed Jordan on the gray list in 2023 due to concerns about virtual asset risks and money laundering loopholes.