Dubai World Trade Centre to create new crypto hub and become regulator
Another government-backed project in Dubai aims to set up an attractive environment for the crypto industry. The United Arab Emirates (UAE) continues to emerge as one of the world’s biggest cryptocurrency-friendly jurisdictions as the government of Dubai has a new initiative to support local crypto development and regulation.The Dubai World Trade Centre (DWTC), a government-owned event and exhibition venue in Dubai, will become a comprehensive zone and regulator of cryptocurrencies, products, operators and exchanges, DWTC officially announced Dec. 20. As part of the initiative, the DWTC....
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The Dubai World Trade Centre (DWTC) will become a crypto zone and regulator for virtual assets and crypto, comprising digital assets, goods, operators, and exchanges, as part of the Dubai government’s efforts to build new economic sectors. Dubai Likes Crypto The United Arab Emirates (UAE) is becoming one of the world’s most cryptocurrency-friendly jurisdiction, with the Dubai government announcing a new program to assist local cryptocurrency development and regulation. The Dubai World Trade Centre (DWTC), a government-owned event and exposition facility in Dubai, said on Dec.....
The Dubai World Trade Centre will become a comprehensive ecosystem for cryptocurrencies and providers of related services. The move is part of efforts to support new industries and the emirate intends to source help from crypto companies like Binance. Dubai World Trade Centre to Host and Regulate Crypto Space Authorities in the United Arab Emirates plan to establish a special zone at the Dubai World Trade Centre (DWTC) from which businesses dealing with digital assets will be able to offer their products and services. The government of Dubai announced that the DWTC will also play the role....
Sam Bankman-Fried's FTX crypto exchange will offer crypto derivatives products to institutional investors in Dubai with the new license. Major global cryptocurrency exchange FTX is expanding operations in the United Arab Emirates by receiving a virtual asset license in Dubai.The license is apparently granted under a new cryptocurrency law adopted last week in Dubai, with Dubai Virtual Asset Regulatory Authority (VARA) becoming a major crypto regulator in the Emirate’s special development and free zones.According to FTX founder and CEO Sam Bankman-Fried, FTX has received the “first and so....
The Sheikh said the regulator will have authority in Dubai's special development zones and free zones with the exception of the Dubai International Financial Centre. Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai in the United Arab Emirates who holds several positions including prime minister, has announced a new law on virtual assets as well as the establishment of a crypto regulator.In a Wednesday announcement, Sheikh Al Maktoum said he had issued a law creating a legal framework for crypto in the Emirate of Dubai aimed at protecting investors and “designing much-warranted....
Binance will assist crypto exchanges and businesses to become licensed in Dubai in cooperation with the local government. The world’s largest cryptocurrency trading platform, Binance, is among the first crypto exchanges to join a new crypto hub established by the Dubai World Trade Centre Authority (DWTCA).Binance officially announced it had signed a memorandum of understanding with the DWTCA the next day after the latter had officially announced the launch of a comprehensive zone for crypto in Dubai on Monday.As part of its membership in the DWTCA’s initiative, Binance will help the....