Dubai World Trade Centre to set up specialised crypto zone

Tuesday, 21 December 2021newsdesk

The Dubai World Trade Centre (DWTC) will become a crypto zone and regulator for cryptocurrencies and other virtual assets, the Dubai Media Office said on Monday, part of efforts to attract new business as regional economic competition heats up.

New Delhi, 21 December 2021

As per news report of The Indian Express, the move by the DWTC to create a specialised zone for virtual assets – including digital assets, products, operators and exchanges – is part of a drive by Dubai, one of the United Arab Emirates federation of seven emirates, to create new economic sectors, the statement said. “Rigorous standards for investor protection, anti money laundering, combating the financing of terrorism, compliance and cross border deal flow tracing,” will be developed, it said.

Source - The Indian Express