The Dubai Financial Services Authority (DFSA) has added XRP and Toncoin to its list of recognized tokens. The DFSA, which regulates the financial services industry in the United Arab Emirates (UAE), had previously only recognized Bitcoin, Ethereum, and other related tokens. The addition of XRP and Toncoin expands the authority’s list of recognized tokens, offering greater protection and certainty to investors in the digital asset space. The DFSA also laid out clear guidelines for investor protection, which investors should adhere to when investing in digital assets. The agency states that “Investors in digital assets should bear in mind that all investments involve risks.” Moreover, the guidelines also caution investors against potential scams and fraud. The DFSA further stated that its recognition of XRP and Toncoin does not constitute a recommendation to buy or sell the tokens. The agency noted that its recognition of the tokens has been granted exclusively to serve the purpose of regulatory oversight.
