The rate of digital asset adoption in the Middle East is steadily increasing. This time, the news comes from Jordan. On January 26, 2025, Jordan approved the creation of a regulatory framework to govern digital assets. The initiative will be implemented within a year.

The country aims to strengthen its digital economy and keep up with the ever-changing landscape of the crypto world. This move is part of Jordan’s strategy to align with global crypto standards.

Key Information

This initiative will be spearheaded by the Jordanian Securities Commission (JSC), supported by the National Council for Future Technology. The goal is to create a technical infrastructure to oversee crypto trading platforms and digital asset activities. The implementation will be managed by a ministerial committee led by the Minister of Digital Economy and Entrepreneurship, alongside officials from the Central Bank, JSC, and the National Cybersecurity Centre.

This initiative follows the Financial Action Task Force (FATF)’s concerns over virtual asset risk and money laundering vulnerabilities, having placed Jordan on its grey list in 2023.

Jordan’s Cautious Approach to Crypto

For a long time, Jordan adopted a cautious stance towards cryptocurrencies and virtual assets, banning banks and financial institutions from engaging in crypto transactions. However, recent developments show progress: Jordan’s Council of Ministers approved a comprehensive blockchain policy for 2025, seeking to modernize its economy and implement more secure public administration systems.

The Future Ahead

This regulatory framework holds significant promise, though its success depends on effective execution. All stakeholders must collaborate to address challenges like public awareness and the costs associated with adopting new systems. The framework aims to eliminate persistent issues like fraud and enhance data security in public administration. With this initiative, the outlook for cryptocurrency in Jordan appears optimistic.