The UAE is aspiring to become a leader in the cryptocurrency business in the region and it is aiming to attract more than 1,000 cryptocurrency businesses in 2022. To position itself against the regional and global competition, it has recently developed an advanced regulatory framework. Both central, on-shore authorities such as the Central Bank of UAE (“CB”) and Securities and Commodities Authority (“SCA”), and some of the free-zones, such as DIFC, ADGM and the DMCC have enacted advanced legal frameworks, while DWTC has announced an important partnership with a Crypto Exchange. It is expected that DWTC will also implement a comprehensive regulatory framework.
Source Thoms Vanhee
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