coingape BTC

in #btc3 years ago

coingape
BTC
$47235 0.75%
ETH
$3935.37 0.06%

coingape
English

Portuguese

Español
SEARCH COINGAPE.COM
BUY CRYPTO
NEWS
Bitcoin News
Altcoin News
Price Analysis
Regulation News
Blockchain News
DeFi News
Press Release
Sponsored
CRYPTOGURU
Blog
Guides
Altcoin
Bitcoin
Legal & Tax
Resources
Telegram Channels
REVIEWS
Crypto Mixer Reviews
DeFi Project Reviews
Exchange Reviews
ICO Review & Rating
IEO Reviews & Rating
Project Reviews
Contact Us
Careers
FOLLOW US ON:

Advertise
Contribute
HOME
/
BLOCKCHAIN NEWS
Breaking: Dubai World Trade Centre to become regulator and comprehensive zone for Crypto
Image Source: Exhibition Showcase
By Palak Malhotra
Published 11 hours ago Updated 11 hours ago
The latest update from the pro-crypto nation, Dubai saw its government declare that the Dubai World Trade Centre (DWTC) will soon become a comprehensive zone and regulator for virtual assets and crypto including digital assets, products, operators and exchanges.

Dubai authorities have continued to put efforts toward enabling crypto’s mass adoption in the nation, this time around by working together with the private sector and relevant entities to make crypto more accessible, and secure. The authorities have declared to enforce “rigorous standards for investor protection, Anti Money Laundering (AML), Combating the Financing of Terrorism (CFT) compliance and cross border deal flow tracing.”

Furthermore, the nation will also gravitate its focus towards the development of the Non-Fungible Token (NFT) industry. The authorities noted that they aim to carve out policies that facilitate the incorporation of “innovative financial product”, along with adoption of “new trends that rely on advanced underlying blockchain technology, such as non-fungible token (NFT) and cryptocurrencies.”

“The step continues to accelerate Dubai’s standing as a leading global centre for business, trade and technology, the World Trade Center will deliver and oversee a new world-class regulatory framework of Virtual Asset legislative and enforcement policies, will be critical to facilitating and broadening cross-border operations and ecosystem innovation to enable safe market adoption and growth for this sector in Dubai.”

Binance’s Dubai HQ
Binance CEO, Changpeng Zhao tweeted the Government of Dubai’s community announcement about their exclusive pro-crypto step. This is unsurprising, given raging speculations about Binance setting up shop in Dubai.

» Dubai World Trade Centre to become comprehensive zone and regulator for virtual assets and Crypto https://t.co/Ndr6GDcJ4u

— CZ 🔶 Binance (@cz_binance) December 20, 2021

During the beginning of the forth quarter, Twitter was flooded with speculations of Binance’s potential HQ set up in Dubai since CZ was spotted in Dubai, attending a meeting with the authorities. The Dubai HQ rumours were put on halt when last month, CZ revealed Binance’s plans to become a digital asset service provider in France by next year. Nevertheless, looking at Binance’s ongoing efforts to expand its global reach by laying ground in different corners of the world, speculations about a Dubai HQ do not seem far fetched.

✓ Share:
TRENDING
PRICE ANALYSIS
Recent Study About Bitcoin Hodlers Raises Concerns About Decentralization
Defi News: 1inch breaches key milestone of 1 million users on Ethereum (ETH)
Breaking: Dubai World Trade Centre to become regulator and comprehensive zone for Crypto
Cryptocurrency 2022: Bitcoin, NFT’s And Other Big Players To Rule The Roost
Disclaimer
About Author
Related Posts

Loading Next Story

coingape
English

Portuguese

Español
CATEGORIES
News

Price Analysis

CryptoGuru

Project Reviews

INTERVIEWS
CONTACT
Advertise

Submit Press Release

Write For Us

Careers
COMPANY
About Us

Privacy Policy

Editorial Policy

Sitemap
FOLLOW US ON:

CONTACT US
Advertise
Contribute
© 2021 CoinGape Media
About Us

Privacy Policy

Write For Us

Advertise