2 years ago
Aiming to beryllium a "major player" globally successful integer assets, Dubai's ruler announced the instauration of a regulatory and licensing authority.
"The aboriginal belongs to whoever designs it," tweeted Sheikh Mohammed bin Rashid Al Maktoum. "Today, done the virtual assets law, we question to enactment successful the plan of this caller and rapidly increasing planetary sector."
The autarkic authority, helium continued, volition "oversee the improvement of the champion concern situation successful the satellite for virtual assets successful presumption of regulation, licensing, governance, and successful enactment with section and planetary fiscal systems."
The Emirate of Dubai is 1 of 7 emirates forming the federation of the United Arab Emirates (UAE). Another emirate, Abu Dhabi, has also been aggressive successful its purpose to go a crypto hub.
The Securities and Commodities Authority of the UAE yesterday issued a statement saying it was nearing the issuance of a regulatory model related to integer assets.
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Amitoj Singh is CoinDesk's regulatory newsman covering India. He holds BTC and ETH beneath CoinDesk's disclosure threshold of $1,000.
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