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DUBAI (Reuters) – The Dubai World Commerce Centre (DWTC) will develop into a crypto zone and regulator for cryptocurrencies and different digital belongings, the Dubai Media Workplace stated on Monday, a part of efforts to draw new enterprise as regional financial competitors heats up.
The transfer by the DWTC to create a specialised zone for digital belongings – together with digital belongings, merchandise, operators and exchanges – is a part of a drive by Dubai, one of many United Arab Emirates federation of seven emirates, to create new financial sectors, the assertion stated.
“Rigorous requirements for investor safety, anti cash laundering, combating the financing of terrorism, compliance and cross border deal circulation tracing,” can be developed, it stated.
In September, the UAE Securities and Commodities Authority and the Dubai World Commerce Centre Authority (DWTCA) agreed a framework that permits the DWTCA to approve and licence monetary …
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