⚡Qatar: Welcome aboard⚡

⚖️ Regulators from the Qatar Financial Centre Authority (QFCA) and the Qatar Financial Centre Regulatory Authority (QFCRA) announced a framework that establishes a foundation for digital assets.

✍🏻 The rules include tokenization processes and the legal recognition of ownership rights over tokens and underlying assets, custody arrangements, transfers, and exchange. In addition, the framework contains provisions for the legal recognition of smart contracts.

🇶🇦 The governor of Qatar's central bank believes that the framework will provide opportunities for the country's financial sector. Qatar is one of the richest countries in the world, mainly due to its vast reserves of oil and natural gas. Here are the main reasons why legislating digital assets can be beneficial:

⛽ Oil and Natural Gas: Qatar's economy relies heavily on the extraction and export of oil and natural gas. The country has some of the largest natural gas reserves in the world.

📊 International Investments: Capital injections into real estate and companies around the world, especially in Europe, Asia and the United States. These investments have diversified its economy and increased its wealth.

🌍 Infrastructure and Tourism: Including stadiums and hotels, especially for events such as the 2022 FIFA World Cup, have boosted tourism and improved the country's infrastructure.

✈️ Telecommunications and Media: The creation of the Al Jazeera network in 1996 and the development of Qatar Airways have been symbols of the country's wealth and modernization.