Financial regulators of the United Arab Emirates have decided to officially allow cryptocurrency tradingin the free economic 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 aspiration to become an international cryptocurrency hub.
In April, the country's economy minister said thatCryptocurrencies and asset tokenization will be key areas in which the UAE economy will double in 10 years. After that, the local exchange, Nasdaq Dubai, listed the public bitcoin fund of the Canadian company 3iQ.
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Based on materialscointelegraph.com
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