The move follows a tie-up between crypto exchange Binance and the Dubai World Trade Centre.
The United Arab Emirates is setting the stage for a push to attract crypto companies, as it looks to issue federal licenses for virtual asset providers by the end of Q1.that the company's Securities & Commodities Authority is in the final stages of amending legislation to let VASPs set up shop in the region. The Block contacted the SCA for comment and to clarify timings.
Binance said it would share its experience in collaborating with global regulators with the watchdog to spur on the development of"progressive" crypto regulations.that the Dubai World Trade Centre would become a crypto regulator in the UAE. The outfit will set up crypto regulations to deal with anti-money laundering standards and track cross-border transactions.
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