The United Arab Emirates (UAE) continues to emerge as one of the largest crypto-friendly jurisdictions in the world, as the government of Dubai has a new initiative to support the development and regulation of local cryptocurrencies.
The Dubai World Trade Center (DWTC), a government-owned exhibition and event venue in Dubai, will become a comprehensive and regulatory zone for cryptocurrencies, products, traders and exchanges, DWTC officially announced on December 20.
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As part of the initiative, the DWTC will design a comprehensive ecosystem for this progressive industry within Dubai and work with the private sector to establish an “attractive industry environment”. The project also aims to enforce rigorous investor protection standards, anti-money laundering measures and the fight against terrorist financing, the DWTC stated.
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Reference-es.investing.com
