(Gulf News) Dubai World Trade Centre authorities will start allowing trading of cryptocurrencies and related financial activities in a bid to be “future-ready.”
The development comes after the UAE’s Securities and Commodities Authority and the Dubai World Trade Centre Authority entered into a crypto deal.
SCA will tackle regulatory oversight of crypto issuance, trading, listing, offering, and licensing as per the deal. The authority will oversight entities operating in the DWTCA free zone
The agreement creates a framework for issuing necessary licenses and approvals to conduct crypto-related financial activities.
DWTCA is looking at ways to provide a sustainable crypto ecosystem in the new deal and sees the rise of new technologies such as NFTs as important in the future.
BTCUSD is up +0.11%, ETHUSD is up +0.04%.
