Dubai World Trade Center to Support Regulated Crypto Assets Trade – Bits Media

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Дубайский Центр международной торговли поддержит регулируемую торговлю криптоактивами - Bits Media

trade will support regulated trading of crypto assets – Bits Media />

UAE Securities and Commodities Authority signs agreement with Dubai World Trade Center Authority, aimed at supporting trading of crypto assets in the free zone.

According to publication
Khaleej Times, Dubai World Trade Center (DWTCA) stated, what regulation will support, proposal, release, listing and trading of crypto assets and related financial activities in its free zone as part of its commitment to innovation and the digital economy.

The announcement was made following the agreement, signed by the Securities and Exchange Commission (SCA) UAE and DWTCA. In accordance with the agreement, SCA will implement supervision, monitoring and inspection of organizations, operating in the DWTCA free zone. In May, the Dubai Free Zone Authority signed a similar agreement with SCA.

“The agreement establishes the structure, which allows DWTCA to issue the necessary permits and licenses to conduct financial activities, related to crypto assets", – According to the statement.

The agreement was signed by SCA Director Maryam Al Suwaidi (Maryam Al Suwaidi) and DWTCA CEO Helal Saeed Almarri (Helal Saeed Almarri).

“DWTCA has signed an agreement to expand existing business licenses, services and benefits. In collaboration with DWTCA, the SCA will conduct regulatory oversight of the release, proposal, listing and trading of crypto assets, as well as licensing of relevant financial activities, subject to the jurisdiction of the DWTCA", – organizations say.

Countries and regions in the Middle East are actively supporting blockchain and cryptocurrencies. In spring, Dubai Multi-Products Commodity Center (DMCC) signed
contract for the construction of a plant for processing precious metals, to track which blockchain will be used. Last October, the world's largest sugar factory, Al Khaleej Sugar, Located in the UAE, announced
about the launch of a blockchain-based sugar trading platform DigitalSugar.io.