Jordan plans to develop a comprehensive regulatory framework for digital assets within a year

ChainCatcher news, according to Petra, Jordan has announced plans to develop a comprehensive regulatory framework for virtual and digital assets within a year, aimed at aligning with global standards and promoting 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 cryptocurrency trading platforms and virtual asset activities.

A ministerial committee led by the Minister of Digital Economy and Entrepreneurship will manage the challenges and guide the implementation of these regulations, consisting of officials from the country's central bank, JSC, and the National Cybersecurity Center.

This move comes as Jordan seeks to address the vulnerabilities highlighted by the Financial Action Task Force (FATF). Due to concerns over virtual asset risks and money laundering loopholes, the task force placed Jordan on the gray list in 2023.