
Please try another search
An economic free zone in Dubai has opened for firms that are offering, issuing, listing, and trading cryptocurrency. In addition, Dubai is a city known for its technological, regulatory structure and crypto-friendly environment.
Dubai Free Zone to Set up Regulatory Framework for Crypto Firms
The Dubai Multi Commodities Centre (DMCC) has signed an agreement with the Securities and Commodities Authority (SCA). In order to allow licensing for firms that work with crypto assets. Moreover, the license will be provided by the specialized DMCC crypto center after being processed by the SCA.
In addition, the SCA will regulate the crypto activities in accordance with its policies that were presented in October. More so, it will develop a unified ecosystem for the cryptocurrency and blockchain industries.
In line with this, the agreement will help to foster growth within the sector. Also, promoting the development of blockchain applications in Dubai. Notably, Ahmed bin Sulayem, a CEO of DMCC explained that DMCC is expanding its current range of crypto-asset licenses through the agreement with the SCA.
Added to this, in early 2020, DMCC signed an agreement with CV VC and CV Labs. Moreover, the agreement will bring the blockchain and crypto technologies ecosystem together in Dubai.
Sulayem said,
“As we continue to make strides within the crypto and blockchain space, the DMCC is making it easier for crypto and blockchain businesses to set up and operate in Dubai.”
Furthermore, in 2020, DMCC launched DigitalSugar. Moreover, it is a blockchain-based trading platform for sugar and the Agriota e-Marketplace. However, the platform was launched to bridge the gap between millions of rural farmers in India and the UAE’s food industry.
This article first published on coinquora.com
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.