Amman, May 4 (Petra) -- The Parliamentary Digital Economy and Entrepreneurship Committee has approved the 2025 Virtual Assets Regulation Law during a meeting held on Sunday, chaired by MP Hussein Krishan.

The meeting was attended by the Minister of Digital Economy and Entrepreneurship, Sami Smeirat, the Minister of State for Legal Affairs, Fayyad Al-Qudah, and the Minister of State for Economic Affairs, Muhannad Shihadeh.

Krishan emphasized that the new law represents a key milestone in Jordan's digital transformation, aiming not only to regulate the emerging virtual assets market but also to enhance the country’s legal framework, attract international investments, and create a competitive environment for Jordanian platforms in this growing sector.

"This is a golden opportunity for investment in the digital economy, backed by a transparent and fair legal framework that safeguards rights, boosts national economic growth, and positions Jordan as a leader in financial technology both regionally and globally," Krishan stated.

The law is designed to regulate virtual asset activities, creating a balanced regulatory environment that supports technological innovation while ensuring financial stability. It also aligns with international standards, especially in terms of combating money laundering and terrorism financing.

The bill outlines the role of the Securities Commission in overseeing the sector, which includes issuing licenses, ensuring compliance with legal requirements, and taking necessary regulatory actions.

Minister Smeirat noted that this law marks the culmination of ongoing efforts to build a solid legislative foundation that protects the rights of users and investors while adapting to fast-evolving industry trends. He highlighted that Jordan will be among the first countries in the region to implement comprehensive legislation for virtual assets, enhancing the country’s digital investment climate.

Minister Al-Qudah added that the law was developed in collaboration with relevant authorities to ensure a balanced approach between digital empowerment and legal protection. He stressed that the regulatory framework is designed to foster transparency and prevent the misuse of virtual assets.

Minister Shihadeh stressed that the law will play a critical role in boosting the digital economy, creating job opportunities, and encouraging innovation in the virtual asset sector. A clear legal environment, he said, will increase investor confidence and attract global players to the Jordanian market.

MPs Fleyha Al-Khdier, Dina Al-Bashir, Moayed Al-Alaouna, Hamed Al-Rahmanah, Ahmad Olimat, and Abdulbaset Al-Kabarti all agreed on the importance of ensuring adequate protections for investors and users, strengthening transparency, and adhering to international standards for combating money laundering and terrorism financing.

//Petra//WH


04/05/2025 12:55:02