Abu Dhabi welcomes crypto miners, but they must reveal who owns them, where the rewards go

Abu Dhabi has formally opened its doors to crypto miners. Abu Dhabi Global Market (ADGM) on October 28 issued guidance creating a dedicated commercial licence for mining firms, classing the activity as a commercial business rather than a regulated financial service.

Operators must disclose their ownership structures and confidentially report the blockchain addresses that receive mining rewards. ADGM says a more comprehensive second phase will follow after further market consultation.

ADGM establishes a dedicated crypto mining licence

Under the new guidance, crypto mining is classified as a licensable commercial activity rather than a regulated financial service. Businesses undertaking these operations can apply for a dedicated commercial licence under business activity code 7230.

The classification provides greater clarity for companies determining which regulatory requirements apply to their activities. ADGM has also introduced a pre-application self-assessment to help businesses distinguish commercial mining operations from activities falling under the jurisdiction of its Financial Services Regulatory Authority (FSRA).

This distinction is significant because digital asset businesses may undertake several activities under a single corporate structure. Mining, cryptocurrency trading, custody and other financial services can involve different operational risks and regulatory obligations. The guidance establishes a clearer starting point for determining the appropriate licensing route.

ADGM’s framework also requires businesses to disclose their corporate structures and ultimate beneficial ownership. These requirements are intended to give the authority greater visibility into the entities and individuals controlling mining operations.

Companies must also confidentially disclose the blockchain addresses through which mining rewards flow. This requirement introduces an additional layer of transparency into the financial movements associated with mining activities, allowing the authority to understand relevant on-chain flows without treating the underlying activity as a regulated financial service.

The guidance establishes a risk-based supervisory approach, with oversight proportionate to the scale and risk profile of individual operations.

Abu Dhabi targets responsible crypto mining businesses

Rashed Al Blooshi, chief executive officer of ADGM’s Registration Authority, said the new guidance reflects the growing importance of digital infrastructure to Abu Dhabi’s economic development.

“Abu Dhabi’s economy is increasingly shaped by digital infrastructure, and crypto mining sits at the intersection of energy, technology and capital. With this Guidance, ADGM is open to responsible crypto mining,” Al Blooshi said.

His remarks place crypto mining within a broader economic strategy involving technology infrastructure, investment and energy-intensive computing. By introducing a dedicated commercial licensing route, ADGM aims to give businesses a clearer understanding of the conditions under which they can establish operations in the jurisdiction.

The authority’s approach also reflects the need to distinguish legitimate commercial activities from financial services that require additional regulatory supervision.

Al Blooshi said the framework would give companies greater clarity over licensing and oversight requirements.

“We are giving operators a clear commercial licensing pathway, proportionate supervision calibrated to scale and risk, and certainty on where the regulatory perimeter resides.”

The approach is designed to provide businesses with a more predictable regulatory environment when planning investments, establishing corporate structures or expanding their operations.

Ownership disclosures and blockchain reward-address reporting are central to that approach. They provide the authority with information about the companies responsible for mining activities and the on-chain addresses associated with their rewards.

Risk-based supervision also means oversight can reflect differences between businesses rather than applying an identical supervisory approach regardless of operational scale.

The guidance does not, however, establish that every digital asset business can operate under the same licence. Companies conducting additional financial activities must still determine whether separate authorisation is necessary.

ADGM plans a second phase of crypto mining regulations

The published guidance represents the first phase of the Registration Authority’s regulatory approach to crypto mining. ADGM said it plans to develop a more comprehensive regulatory framework during a second phase and consult market participants in due course.

The planned consultation could provide an opportunity for mining businesses and other industry stakeholders to offer feedback on the proposed regulatory direction.

According to the authority, the guidance followed an eight-week public consultation conducted earlier in 2026. Feedback received during that process helped shape the licensing and oversight requirements introduced in the first phase.

The consultation process forms part of ADGM’s effort to establish requirements that account for the operational realities of crypto mining while providing sufficient transparency and governance.

For companies planning to establish operations in Abu Dhabi, the initial framework offers a defined commercial licensing route. However, the planned second phase indicates that the regulatory approach may develop further as the authority considers industry feedback and the requirements of the sector.

Businesses will need to assess their activities carefully to determine whether they fall within the commercial mining classification or involve services subject to separate financial regulation.

This is particularly important for companies operating across several parts of the digital asset industry. A crypto kiosk operator, for example, should examine the rules applicable to its specific services rather than assume that regulations designed for mining businesses automatically apply.

The distinction between commercial licensing and financial authorisation remains central to the framework.

ADGM’s immediate objective is to provide regulatory certainty for responsible mining businesses seeking to establish or expand their activities from Abu Dhabi. Its planned second phase suggests that further regulatory development and industry consultation will follow.

The guidance therefore marks an initial step towards a more structured regulatory environment for crypto mining within the international financial centre, with additional rules potentially emerging as the authority continues its work.