Financial regulators in the United Arab Emirates have decided to officially allow cryptocurrency trading in the free trade zone in Dubai.
The new initiative is supported by legislation that allows the financial regulator (DWTCA) to issue the necessary approvals and licenses for companies dealing with cryptocurrencies.
This decision once again confirms the UAE's desire to become an international cryptocurrency hub.
In April, the country's Minister of Economy said that cryptocurrencies and asset tokenization will be key areas through which the UAE economy will double in 10 years. After this, the local exchange, Nasdaq Dubai, listed the public Bitcoin fund of the Canadian company 3iQ.
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According to cointelegraph.com
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