The Dubai World Trade Center (DWTC) is becoming a crypto zone and regulator of cryptocurrencies and other virtual assets, and the Dubai Media Office is working on Monday to attract new businesses as regional economic competition intensifies. Said as part.
DWTC's move to create zones dedicated to virtual assets (digital assets, products, operators, exchanges, etc.) has created a new sector of the economy by Dubai, one of the seven emirates of the United Arab Emirates. Part of the initiative to create. The statement said.
"There are strict standards in place for investor protection, fighting money laundering, fighting terrorist financing, compliance and tracking cross-border transaction flows," he said.
Polkadot introduces parachains that enable an interoperable blockchain ecosystem In September, the UAE Securities and Instruments Bureau and the Dubai World Trade Center (DWTCA) agreed on a framework that would allow DWTCA to approve and license financial activities related to cryptocurrency investments.
Cryptocurrency sacked the biggest investment ever in 2021: Report In October, another Dubai Free Zone, DIFC, Dubai's State Financial Free Zone, and the most important financial centers in the Middle East unveiled the first part of the digital token regulatory framework.
