Wednesday, January 26

Dubai World Trade Center will welcome you to cryptocurrencies!

The intention of the Dubai government to embrace the crypto world, seeking to attract foreign investment, has been known for some time. Now, the authorities present a new project, which consists of the use of the Dubai World Trade Center as an international center for the exchange of cryptocurrencies.

A new regulatory framework would be responsible for allowing and “controlling” the flow of the crypto market in Dubai.

The government initiative

In recent announcements, the government of Dubai, a member of the United Arab Emirates (USA), announced its intention to join the crypto world. The authorities have shown optimism regarding the implementation of regulations that allow the circulation of cryptocurrencies in their territory.

Although there was already some support for the sector before, these authorities intend to take their initiative to another level. They have clarified that they want to turn Dubai into a global scale cryptocurrency trading and exchange hub.

For this purpose, the idea of ​​transforming the Dubai World Trade Center (DWTC) into a environment favorable. The complex where various exhibitions and events take place would now have a regulatory ecosystem of the crypto world.

It would seek to establish a regulatory framework that opens the doors for digital assets to attract more investment. In this scenario, both government authorities and the private sector will participate, creating the necessary conditions to obtain a “comprehensive ecosystem.”

On the other hand, in addition to promoting the crypto world, the authorities envision a system that is “safe”, while transactions are “protected.” They emphasize legislation that supports operations, in order to “protect” investors.

The vision of a crypto future

Considering the plan that has been drawn up for the Dubai World Trade Center, the authorities of the region are paying attention to several aspects. Among the details provided in relation to the new scenario, there is talk of ensuring the correct performance of the crypto market.

In this way, the regulation of digital assets is taken into account to monitor their use or non-use in criminal acts. Within this aspect we find the “financing” of terrorist acts, in addition to the fact that the authorities would closely observe the entire flow at the international level.

They clarify that the government initiative would implement security methods designed to observe transactions made abroad. With this, the regulatory body will “monitor” the direction that operations take, from the borders to any destination, trying to forge a “transparent” scenario.