UAE authorities will discuss the prospect of paying salaries in cryptocurrency – Bits Media

Top officials of the United Arab Emirates will discuss the role of digital assets in the future of the country.

UAE officials to meet at Investopia summit, to discuss with politicians, cryptocurrency investors and entrepreneurs. Reported, which is one of the important points Discussions may include payment of salaries in cryptocurrencies in the emirates. Officials note, that in some other countries salaries are already paid in digital currencies - now the UAE is also considering the possibility of paying employees, eg, in stablecoins. but, officials complain, The volatility of cryptocurrencies and the lack of knowledge about them remain pressing problems in the industry.

According to UAE Minister of Economy Abdullah bin Tuq Al Marri (Abdulla Bin Touq Al Marri), The role of banks will be of particular importance. At the summit they are going to discuss, what can motivate banks to actively invest in the crypto industry. Metaverses and the issue of their regulation in the future will also be discussed at the meeting..

Previously Sheikh Mohammed bin Rashid Al Maktoum (Mohammed bin Rashid Al Maktoum) reported, that Dubai has approved a law on virtual assets, and also formed an agency, which will regulate the cryptocurrency industry. The emirate's authorities want to strengthen Dubai's position in the fast-growing industry.