Oman Capital Markets Authority releases tender for regulation of virtual assets

The Oman capital markets Authority has announced a tender for specialized companies to assist in setting up a legislative and regulatory framework for virtual assets and licensing supervision and regulations of Virtual assets service providers within the Sultanate of Oman.

The tender requests that entities consider various global forms to choose the most appropriate to be adopted and implemented.

According to the tender announcement, the project will be implemented in two phases. The fist phase will seek to identify and set out the legislative an regulatory framework required for the regulation of virtual assets to furnish the proper safeguards for investors.

The second phase will be to provide training and technical support for the Capital MARKET Authority and setting up work manuals forms and proposals for the regulatory systems for the licensing supervision and regulations processes.