The Dubai World Trade Centre Authority (DWTCA) announced Wednesday that it had signed an agreement with the UAE’s Securities and Commodities Authority (SCA) to support the regulation and trading of crypto assets within the DWTCA free zone.
The new initiative establishes a framework enabling the DWTCA to issue necessary approvals and licenses for financial activities related to cryptocurrencies. As part of the agreement, the SCA will also supervise major crypto-related activities, such as issuance, listing, trading and licensing processes.
According to the announcement, the agreement was signed by SCA acting CEO Maryam Al Suwaidi, DWTCA director-general Helal Saeed Al Marri, as well as an executive at the Dubai Department of Tourism and Commerce Marketing. Al Suwaidi stated:
“As Dubai continues its drive towards an innovation and digital-led economy, DWTCA is looking to support businesses underpinned by blockchain and cryptographic technologies”
Source: https://www.cryptocompare.com/email-updates/daily/2021/sep/24/
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