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.
Subscribe to ForkNews in Telegram to stay up to date with news from the world of cryptocurrencies
According to cointelegraph.com
You May Also Like
Spain approves law requiring disclosure of information about digital assets
According to local media, the Spanish Council of Ministers has approved an anti-fraud bill, according to which citizens undertake to declare every year the digital assets they own in the country and abroad. Thus, the regulator intends to prevent tax evasion in relation to cryptocurrencies that were not previously subject to regulation.
The IMF again criticized the legalization of Bitcoin in El Salvador
In the report, El Salvador: 2021 Article IV Mission Staff Final Statement, the IMF praised El Salvador's efforts to promote "financial inclusion and growth" but criticized the tool the country's government is using to achieve this goal.
