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The announcement comes within the efforts to further develop Dubai virtual assets and markets.

The Dubai World Trade Centre will soon become a crypto zone and a regulator for cryptocurrencies and virtual assets.

DUBAI: The Dubai World Trade Centre will become a crypto zone and regulator for cryptocurrencies and other virtual assets, the Dubai Media Office said on Monday, part of efforts to attract new business as regional economic competition heats up. The move by the DWTC to create a specialized zone for virtual assets — including digital assets, products, operators and exchanges —

The Dubai World Trade Centre Authority (DWTCA) and the UAE Securities and Commodities Authority (SCA) agreed on a framework in September that permits the DWTCA to approve and licence financial activity using crypto assets.

The Dubai World Trade Centre will become a crypto zone and regulator for cryptocurrencies and other virtual assets

Dubai World Trade Centre will become a crypto zone and regulator for cryptocurrencies and other virtual assets, as part of efforts to attract new business as regional economic competition heats up.

(Bloomberg) -- Binance Holdings Ltd., which has claimed to be a virtual company, has held discussions with regulators in the United Arab Emirates about a potential headquarters in the Gulf Arab nation, according to people with direct knowledge of the matter.

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The UAE is making significant strides and fast becoming one of the world’s most blockchain-friendly nations with decentralised finance (DeFi) poised to change the current ways of finance and trade for the better. The UAE is also working to ensure that proper regulations are in place in order to protect users, according to DeFi experts. ...