TechFlow news, on September 2, according to Cointelegraph, the Qatar Financial Centre (QFC) has recently released a comprehensive regulatory and establishment framework for digital assets. The framework covers tokenization processes, legal recognition of ownership rights for tokens and related assets, custody arrangements, transfer and trading, and provides legal recognition for smart contracts.
Sheikh Bandar bin Mohammed bin Saoud Al Thani, Governor of the Central Bank of Qatar, said the new regulations will bring significant opportunities to Qatar's financial industry. As an independently operated business hub, QFC allows 100% foreign ownership and profit repatriation, levying a 10% corporate tax on local profits. Since the launch of the QFC Digital Assets Lab last October, over 20 startups have been onboarded to develop, test, and commercialize their products and services.
