June 7, 2023

Dubai Week

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The UAE is a world leader in crypto-asset development

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“Digital Journal” stated that the UAE is poised to lead the global scene in the development of virtual assets.

The Canadian website, in a report on the future of crypto assets, noted that the United Arab Emirates looks set to lead the world in terms of the development of crypto assets and virtual currencies, noting that expectations regarding this leadership did not come true. A vacuum, but from the fact of the steady progress achieved by both Dubai and Abu Dhabi based on firmly establishing their presence at the center of crypto assets, due to the desire to be within the global leadership in the arena of digital currencies.

He added that there is a lot of evidence on the ground that confirms this, for example, “Binance”, the world’s largest platform for trading crypto assets in terms of the volume of traded assets, “received a license from the Virtual Asset Regulatory Authority in Dubai” last March. It has cryptocurrency trading in the emirate. Also, other major exchanges in the world for trading crypto assets are interested in establishing a presence in Dubai and Abu Dhabi, including the “FTX” platform, whose market value was estimated at about $ 33 billion two months ago, has established an office. Each of the two emirates..

The report pointed out that the UAE’s interest in the crypto-asset sector stems from its desire to adopt a policy of innovation in general and to support everything related to innovation, including successful start-ups in various cutting-edge technology sectors, including business. Virtual assets.

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