[Abu Dhabi proposes a regulatory framework for fiat reference tokens] Golden Finance reported that the Abu Dhabi Financial Regulatory Authority plans to regulate the Fiat Reference Token (FRT), a stablecoin, in response to stakeholders' calls for the issuance of the token. The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) said that FRT issuers will be subject to operational restrictions and requirements. FSRA recommends that the market value of reserve assets be at least equal to the face value of all FRTs in circulation at the end of each business day. FRTs should also be valued at daily market prices. The regulator also recommends that institutions that issue two or more FRTs should operate and maintain independent reserve asset pools for each FRT and manage each reserve asset pool separately.