Cryptocurrencies in Dubai

Cryptocurrencies in Dubai

by Supercarperhour

The Dubai Press Office announced yesterday​​​ that the Dubai World Trade Centre will become the United Arab Emirates (UAE) cryptocurrency regulator. DUBAI, Dec 20 (Reuters) - The Dubai World Trade Centre (DWTC) will become the cryptocurrency zone and the regulator of cryptocurrencies and other virtual assets as part of the region's efforts to attract new business, the Dubai Media Office said on Monday. economic competition. up. UAE authorities intend to create a special zone at the Dubai World Trade Centre (DWTC) from which digital asset companies can offer their products and services. UAE authorities are creating a dedicated zone at Dubai World Trade Centre where all digital asset companies can offer their products and services.

Free zones in Dubai and Abu Dhabi have created a cutting-edge framework to encourage entrepreneurs in the crypto space to set up exchanges while creating rules to protect consumers. While many countries have taken steps to ban the use of Bitcoin (BTC) and digital assets, UAE regulators have taken a different approach, enabling their use of blockchain through a special structure designed to drive how crypto companies act within the law. Visions of the Persian Gulf. nation.

Dubai has worked to become the world's first blockchain-based economy, and with it, its own cryptocurrency. Last week, the Dubai City Government launched its own blockchain-based cryptocurrency. This new “cryptographic digital currency” is the product of partnerships that Dubai is cultivating through its Acceleration Initiative and brought under the umbrella of the Dubai Economic Accelerators.

The Dubai Blockchain Mandate 2020, led by the Smart Dubai Office, sets out a roadmap for the adoption of blockchain technology in Dubai. Today, the adoption of cryptocurrency and blockchain technology is still in its infancy, but thanks to our leadership position and experience, combined with Dubai’s long-term vision, we plan to develop an appropriate regulatory framework to adapt to the rapidly changing nature and progressive virtual resources. . Dubbed the "city of the future", Dubai is certainly one of them, but it's not the first city with an "official" cryptocurrency.

Apart from cryptocurrency enthusiasts, anyone who knows little about cryptocurrencies can buy and sell cryptocurrencies in Dubai. Anyone can buy and sell cryptocurrency in Dubai, regardless of citizenship. People can pay in EUR, USD or AED to buy bitcoin in Dubai, or they can receive EUR, USD or AED after selling the cryptocurrency. Cryptocurrency enthusiasts can exchange cryptocurrency for cash and cash for cryptocurrency using various currencies: Bitcoin, Cardano, Ethereum, AED, USD, EUR and GBP or any other cryptocurrency.

The Coinsferas Cryptocurrency OTC exchange allows people to easily and securely buy bitcoin in Dubai and other cryptocurrencies. Since 2015, Coinsfera has been providing the process of buying and selling Bitcoin and over 2000 other cryptocurrencies in Dubai. No one knows about the procedures for buying and selling bitcoins in Dubai and Globe A to Z is here to help you buy and cash out cryptocurrencies in Dubai in just 3 steps. A to Z Globe is an over-the-counter cryptocurrency exchange shop where you can buy and sell Bitcoin or any other cash-based cryptocurrency in Dubai.

Additionally, we can help you transfer and convert your cryptocurrencies, as well as sell bitcoins for cash in Dubai. To make our services more accessible, our offices are located in the heart of Dubai. We have been the first and only Bitcoin store in the world operating in Dubai since 2015.

As an expert cryptocurrency exchange in Dubai, A to Z Globe is currently being launched to facilitate cryptocurrency trading. Investors rely on Globe from A to Z as they transact in high volumes as it is a renowned cryptocurrency exchange in Dubai. Coinsfera is the first legal cryptocurrency provider in Dubai offering a variety of cryptocurrency related services.

As more and more countries seek to ban cryptocurrencies or impose strict regulations, the world's largest cryptocurrency trading platform, the Chinese company Binance, is betting on the UAE. The potential Binance HQ in Dubai says a lot about the rapid growth of the cryptocurrency scene in Dubai, especially as it continues to cope with global regulatory pressure. According to Bloomberg, Binance plans to open its headquarters in the United Arab Emirates, Dubai or Abu Dhabi.

With this transaction, Binance became one of the first cryptocurrency exchanges to join the new DWTCA crypto center. Binance said it will share its experience with global regulators who have the power to help shape “progressive” cryptocurrency regulations.

The Dubai World Trade Center will become a complete ecosystem for cryptocurrencies and related service providers. The city will also have a common platform called “Blockchain as a Service” to help Dubai government agencies use blockchain in various projects. Dubai wants to license such cryptocurrency trading platforms and other blockchain assets.

The Monetary Authority of Singapore has also banned crypto service providers from opening crypto ATMs. Singapore has introduced new rules for crypto companies, including a ban on advertising crypto in public places. According to exchange CEO Ola Dudin, BitOasis recently partnered with the Dubai Police to establish security rules for crypto investments in the region.

This view is echoed by Marwan Al Zarouni, CEO of the Dubai Blockchain Center, who points out that Dubai is a pro-blockchain city that is ready to create industry-friendly rules. Ralph Glabischnig, founder and board member of the Swiss cryptocurrency hub CV Labs, said that the Dubai market “will grow faster than anywhere else”, and attributed the current interest of investors and entrepreneurs to the business environment of the emirates.

Ahmed bin Sulayem, Executive Chairman and Head of DMCC, is confident that there will be “significantly more” 1,000 crypto assets in the UAE by the end of 2022. DMCC Crypto Center - Launched in May to promote crypto and blockchain technologies in Dubai. - hosts more than 100 organizations operating in the crypto space, another 900 have applied for licenses. Outlining the purpose of the company, Binance said it wants to “help crypto exchanges, blockchain and distributed ledger technology (DLT) service companies, and a wide range of currencies and digital assets obtain a license in Dubai.”

Another free zone, the Dubai International Financial Center, initiated the first phase of the regulatory framework for digital tokens a month later in October. DUBAI, UAE, Nov 24, 2021 (GLOBE NEWSWIRE) -- With the popularity of cryptocurrencies, everyone is looking for a trusted place to buy and sell Bitcoin in Dubai.

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