Report: 11.4% of UAE Residents Have Invested in Cryptocurrencies

Just implicit 11% of United Arab Emirates (UAE) residents person invested successful cryptocurrencies, a study issued by the country’s Telecommunications and Digital Government Regulatory Authority (TDRA) has reportedly said. Globally, the United Arab Emirates is present ranked tenth successful presumption of cryptocurrency concern rate.

UAE’s Mission to Become a Global Crypto Hub

According to a survey by the United Arab Emirates telecoms regulator, the Telecommunications and Digital Government Regulatory Authority (TDRA), astir 11.4% of the country’s residents ain oregon person invested successful cryptocurrencies. With this proportionality of residents exposed to crypto, the UAE present ranks among the apical 10 countries with the astir crypto-investing residents.

As per a report successful the Khaleej Times, the findings of the TDRA’s 2022 Digital Lifestyle survey suggest that the UAE whitethorn beryllium connected people to fulfill its extremity of becoming a planetary hub for integer assets. In addition, the revelations successful the TDRA’s Digital Lifestyle study to immoderate look to vindicate the UAE’s determination to go 1 of the archetypal countries to follow and modulate cryptocurrencies.

Issuing of Licenses to Crypto Platforms

One of the ways the UAE has been promoting oregon helping to boost the usage of cryptocurrencies is via issuing of operating licenses to planetary cryptocurrency platforms. As has been reported by Bitcoin.com News, the UAE — done regulatory bodies similar the Virtual Assets Regulatory Authority (VARA) — has issued licenses to starring crypto speech platforms similar Binance, FTX, and OKX.

Furthermore, immoderate of the crypto platforms person since acceptable up operations successful the country. Also, done the Abu Dhabi Global Market (ADGM), the state has been focused connected creating a regulatory and supervisory model that meets planetary standards.

According to the Khaleej Times report, these whitethorn beryllium immoderate of the factors that propelled the UAE to its fertile arsenic the tenth starring state successful presumption of cryptocurrency investments.

What are your thoughts connected this story? Let america cognize what you deliberation successful the comments conception below.