Amman: The Jordan Securities Commission (JSC) confirmed on Thursday that the Virtual Asset Service Providers Licensing bill for 2025 is in its final stages and expected to be issued soon. This comes after the Cabinet, headed by Prime Minister Jaafar Hassan, approved the regulation's rationale and authorized the next steps for its formal adoption during its session held yesterday, Wednesday.
According to Jordan News Agency, the draft regulation is based on the Law Regulating Virtual Asset Transactions, which aligns with the objectives and programs of the Future Technology Council. This council was established by the Prime Minister under directives from His Majesty King Abdullah II and closely followed by His Royal Highness Crown Prince Al Hussein bin Abdullah II.
This decision is aimed at creating a secure and attractive digital business environment that encourages investment and empowers young Jordanians seeking to work in the virtual assets sector. The JSC noted that several of the region's leading virtual asset platforms were founded by Jordanians. With the new regulation, investors will be able to engage with licensed and officially supervised local platforms, ensuring higher levels of security and legal protection instead of relying on unregulated foreign platforms.
The Commission emphasized that this step is part of its broader efforts to issue and update a comprehensive package of laws, regulations, and instructions related to virtual asset activities. These efforts are in line with the recently enacted Virtual Asset Transactions Law, which supports the goals of Jordan's Economic Modernization Vision and national efforts to strengthen the economy.
Since the law's approval by Parliament, the JSC has formed specialized committees to draft the required implementing regulations and instructions. In line with the principle of transparency and stakeholder participation, the JSC made the draft regulation publicly available on its official website for review by interested parties. The Commission also received and reviewed all opinions, suggestions, and consultations submitted through the government's "Tawasul" platform. A dedicated committee analyzed these inputs and developed recommendations accordingly.