Yazeed AbuSummaqa

Jordan has already answered the first question on crypto, regulation is coming. The harder question is whether the country can prevent the industry from repeating an old financial problem in a new digital form.

Jordan has previously dealt with unlicensed investment businesses targeting local investors with unrealistic promises of returns. That experience still shapes the regulator’s approach.

In January 2026, the Jordan Securities Commission warned specifically about unlicensed foreign-market firms and virtual-asset platforms, stressing the risks of fraud, loss of funds and the absence of legal protection. That history explains why crypto licensing matters beyond simply deciding who can operate.

A crypto platform can look legitimate from the outside while the real risks sit underneath... where client assets are held, who controls custody, how transactions are monitored, whether funds are segregated, and what happens when a platform fails.

Jordan’s proposed framework addresses custody, investor protection, governance, cybersecurity, AML controls and financial requirements. This is the real test.
Jordan does not simply need licensed crypto companies. It needs a system capable of identifying the next unlicensed operator before investors discover the problem themselves.

That is also why Washington matters. The United States is still working toward clearer federal rules for digital assets, leaving important questions around market structure and the roles of the SEC and CFTC unresolved.

Jordan therefore faces a more practical choice than simply “regulate or wait”. Build the market now but design the supervisory framework so it can adapt to international standards as major markets settle their own rules.

The lesson from the past is straightforward, licensing is only the beginning. Enforcement, custody and investor protection are what determine whether regulation works.