general

UAE Securities and Commodities Authority (SCA) Approves Support for Cryptocurrency Trading

UAE Securities and Commodities Authority (SCA) Approves Support for Cryptocurrency Trading

The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles

Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles

Answer UAE Securities and Commodities Authority (SCA) Approves Support for Cryptocurrency Trading

The adoption and adoption of cryptocurrencies in the Arab region received a huge boost yesterday, September 22, after the Securities and Commodities Authority (SCA) – the financial regulator of the United Arab Emirates – and the Dubai World Trade Center Authority (DWTCA) signed an agreement to facilitate regulation, presentation and issuance and listing and trading of crypto assets and related financial activities within the Dubai World Trade Center Free Zone.

in official announcementAccording to the authorities, the agreement will create a framework for issuing the necessary approvals and licenses to conduct financial activities related to cryptocurrencies.

The Securities and Commodities Authority will take care of the regulatory requirements related to the issuance, listing and trading of cryptocurrencies within the jurisdiction of the Dubai World Trade Center Free Zone “DWTCA”.

Read:Bitcoin rebounded above $30K after recording 9 consecutive weeks of losses and negative closes

According to the agreement, the UAE Securities and Commodities Authority will monitor and inspect crypto companies operating within the free zone.

The said agreement was signed by Maryam Al Suwaidi, Acting CEO of the Securities and Commodities Authority, and Helal Saeed Al Marri, Director General of the Dubai World Trade Center Authority (DWTCA).

The Securities and Commodities Authority will be responsible for the regulatory oversight of the offer, issuance, trading, listing and licensing of cryptocurrency related financial activities within the boundaries of the Dubai World Trade Center Free Zone.

Maryam Al-Suwaidi said:

The Securities and Commodities Authority will supervise, control and investigate licensed entities operating within the Free Zone.

Crypto in the United Arab Emirates:

In the past few months, the UAE crypto market has seen a huge jump in terms of adoption, as leading global blockchain and cryptocurrency management companies have opened offices in the region.

In November 2020, Ripple chose Dubai as its regional headquarters.

The Dubai World Trade Center Authority is committed to expanding its services as a preferred free zone for international investment and entrepreneurship community.

Read:Binance adds the option to trade cryptocurrency against the Russian ruble

As Dubai continues its quest for innovation and the digital economy, DWTCA looks to support businesses powered by blockchain and crypto technologies.

The agreement with the Securities and Commodities Authority will allow the DWTCA to expand its regulatory, licensing and services capabilities, as well as extend the central supervision of the crypto market to the free zone.

Read also:

One of the biggest bitcoin whales buys $170 million in bitcoin in two weeks

Crypto market regains $200 billion in one day and Bitcoin is back above $44,000


And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time

Previous post
Three reasons behind the record rise of the digital currency AVAX by 800% in two months!
Next post
One of the biggest bitcoin whales buys $170 million in bitcoin in two weeks