Dubai is taking another step towards the adoption of cryptocurrencies thanks to a new agreement between the Dubai Airport Free Zone Authority andUnited Arab Emirates Securities and Goods Administration (SCA).
</p>Strive to develop the cryptoindustry in the region,trading with a cryptocurrency was allowed in accordance with the established rules. As a supervisory body of financial markets, OAE SCA will monitor the supply, release, listing and trade of cryptoactivities in the free market. SCA will also handle all necessary approvals and licenses for companies that hold cryptocurrency trading.
According to local CMIs, agreement,podpicannoe icpolnyayuschim obyazannocti genepalnogo dipektopa SCA Mapyam Al Cuvaydi and zamectitelem genepalnogo dipektopa DAFZA Amnoy Lutax, pozvolyaet DAFZA pacshipyat cvoi biznec-litsenzii and kommepcheckuyu deyatelnoct in ppedelax cvobodnoy Blocks of.
The UAE, and Dubai especially, are known for their loyalposition regarding cryptocurrency and blockchain. The Dubai Financial Services Authority plans to introduce regulation of cryptocurrencies this year. In March, the department called on the public to speak out on the draft laws.
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