The Legislation and Opinion Bureau has published the draft “2025 Licensing System for Virtual Asset Service Providers” under the Virtual Asset Law No. 14 of 2025, ahead of final approval after public and stakeholder feedback. The regulation will come into effect 45 days after its official publication in the government gazette.
اضافة اعلان
Key Provisions:
1. Licensing Requirement
No entity may engage in any virtual asset activities without obtaining a license from the Jordan Securities Commission (JSC).
Company registration for virtual asset activities requires preliminary approval from the Commission before applying for a final operating license.
Only private or public joint-stock companies may apply, and their sole purpose must be virtual asset activities.
2. Minimum Paid-Up Capital (in JOD)
Operating and managing virtual asset platforms: 4,000,000
Custody and management of assets or instruments enabling control: 2,000,000
Brokerage in virtual asset trading: 1,500,000
Participation or providing financial services related to issuers’ offerings or asset sales: 1,000,000
Capital requirements are cumulative for companies applying for multiple activities. The Commission may adjust requirements based on business size or nature.
3. Licensing Process
Two-stage process: preliminary approval → final license after meeting regulatory, technical, and supervisory requirements.
Requirements include:
Feasibility studies and organizational structures
Governance, risk management, and cybersecurity plans
Anti-money laundering (AML) and counter-terrorist financing (CTF) compliance
Dedicated complaint-handling units for customer protection
4. Fees and Commissions
Non-refundable application fee: 1,000 JOD
Licensing fees:
Platform operators: 100,000 JOD
Custody and management: 50,000 JOD
Brokerage services: 50,000 JOD
Participation/financial services: 30,000 JOD
Annual renewal: 50,000 JOD for platforms, 25,000 JOD for custody/brokerage, 15,000 JOD for participation services
Transaction commission: 0.0005 of each contract/order value
5. Supervision and Compliance
The Commission has broad inspection and monitoring powers, including auditing technical systems, records, and conducting on-site examinations.
Providers remain fully responsible for any outsourced activities.
Providers must maintain fair, transparent customer practices, including full disclosure of risks, fees, and reporting fraud or breaches.
6. Restrictions and Controls
Changes to company structure, capital, or operational location require prior written approval.
Ownership exceeding 5% requires prior approval to assess conflicts of interest or influence.
Providers cannot use client assets as loan collateral or provide financing for asset trading without explicit approval.
7. Customer Protection Measures
Dedicated complaint units
Transparent marketing practices
Clear fee and commission disclosure
8. Regulatory Sandbox (“Regulatory Lab”)
The JSC may allow experimental testing of new products/services under direct supervision before full-scale approval.
9. License Revocation
Licenses may be suspended or revoked if providers fail to meet requirements, engage in misconduct, or threaten the integrity of the virtual asset sector.
Revocation decisions are publicly announced within seven days in newspapers and on the Commission’s website.
10. General Provisions
All customer funds must be held in direct bank or electronic payment accounts.
The JSC may classify virtual asset activities and establish detailed rules for their operation.
This system represents Jordan’s comprehensive approach to regulating virtual assets, balancing innovation, investor protection, and compliance with international standards.
