Financial regulators in the United Arab Emirates are set to allow and support cryptocurrency trading in an economic free zone in Dubai.
According to the Emirates News Agency, the Securities and Commodities Authority and the Dubai World Trade Centre Authority have entered into an agreement supporting the regulation, offering, issuance, listing, and trading of crypto assets and related financial activities within the DWTCA’s free zone.
The agreement was signed by acting Chief Executive of SCA, Dr Maryam Al Suwaidi, and Director-General of DWTCA and Dubai Department of Tourism and Commerce Marketing, Helal Saeed Al Marri.
He added that with the rise of new technologies such as non-fungible tokens set to play an important role in the future of commerce, and building on the Future Blockchain Summit, the DWTCA was a way to offer a sustainable home for the new ecosystem, and to stay future ready.
