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On 27 July 2023, the Oman Capital Market Authority (CMA) opened a consultation on the Virtual Assets Regulatory Framework until 17 August 2023. The framework aims to provide a comprehensive regime for the virtual assets sector including conduct requirements for Virtual Asset Service Providers (VASPs) and rules to prevent market abuse. In particular, the CMA proposes for VASPs to obtain an operational license under the regulatory framework and the procedure for processing the operation license including expected timeframes and related fees.
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