• Apply: Complete the above pre-requisites and submit the application form on the E-services portal. The DFSA will issue a fee invoice. Upon payment of the fees, the application will be accepted.
• Evaluate: The DFSA will conduct a thorough assessment of the application. In cases of insufficient information, a request will be made for additional information.
• Recognise: Upon satisfactory assessment, the DFSA will recognise a Crypto Token.

If applicable, the documents the DFSA is likely to request to be submitted with the application form include but are not limited to:

• Relevant documents which cover governance, issuance, audit, cuber security, market characteristics, etc
• Whether Recognition or licensing is granted at another jurisdiction and if so, the relevant documents.

According to the DFSA's Fees module, a person applying for Crypto Token Recognition must pay an application fee of USD 5,000.