The Dubai World Trade Centre (DWTC) will become a comprehensive zone and regulator for cryptocurrencies and other virtual assets.
A specialised ecosystem will be designed for digital assets, products, operators and exchanges as part of the emirate's efforts to create new economic sectors.
The DWTC will collaborate with the private sector and relevant entities in Dubai to create an attractive environment and enforce rigorous standards for investor protection, Anti Money Laundering (AML), Combating the Financing of Terrorism (CFT) compliance and cross border deal flow tracing.
The announcement that comes within the efforts to further develop Dubai virtual assets and markets, includes creating a framework for innovative financial products, adopting new trends that rely on advanced underlying blockchain technology, such as non-fungible token (NFT) and cryptocurrencies.
. @DWTCOfficial is set to become a comprehensive zone & regulator for virtual assets & crypto including digital assets, products, operators & exchanges. #Dubai https://t.co/LuDPj4mxc1 pic.twitter.com/UrEzrXWdaZ
— Dubai Media Office (@DXBMediaOffice) December 20, 2021
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