The Dubai World Trade Centre upgrades into a new hub for digital currency. It is another project by U.A.E. supported by its official authorities.
Dubai World Trade Centre Accepted Crypto:
The Dubai world trade center is rising as the largest crypto-friendly sovereignty country globally. As the U.A.E. government has taken new steps to support the development and regulation of local Cryptocurrency.
The Dubai world trade center (DWTC) is in ownership of the U.A.E. government. A place in Dubai where events and exhibitions take place. On Monday, DWTC announced that it had become a comprehensive zone and regulator of cryptocurrencies, products, operators, and exchanges.
Additionally, in the beginning, The DWTC will craft a comprehensive ecosystem for these developing sectors. And, it will sign the partnership programs with the private sectors to design an “attractive ambiance for the sectors.”
The DWTC stated that their focus would be on imposing strict standards for investors’ protection, anti-money laundering law, and countering the finance of terrorism.
“The Dubai world trade center will deliver and oversee a new world-class regulatory framework of virtual asset legislative and enforcement policies.”
Also, In January, The Dubai financial services authority declared that it would put in place a regulatory framework for crypto, as a part of its 2021 business plan. So far, the authority has allowed the bulk of regulatory permission to crypto businesses. And Dubai has finally transformed into a center for many crypto-friendly free sectors.
Binance C.E.O Response Over DWTC Announcement:
Binance C.E.O Changpeng Zhao was the first person amongst the crypto community who enjoyed and celebrated this announcement by Dubai. Fact says he is quite interested in the crypto ecosystem of Dubai. As in October, he purchased his first home in Dubai.
The initiative comes in line with Dubai’s continuous struggle to develop crypto. Even both Dubai and U.A.E. work for their local economy so that they can take full benefit of the underlying blockchain latest digital assets like Cryptocurrency, Non-Fungible Token(NFTs)
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