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UAE’s Regulator Supports Crypto Asset Trading in Free Zone By CoinQuora

by Mike Robinson

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UAE’s Regulator Supports Crypto Asset Trading in Free Zone
  • UAE’s regulator is supporting crypto-asset trading.
  • Now, the DWTCA is able to issue licenses or approvals.
  • The DWTCA can now issue approvals or licenses to entities located in the “free zone”.

The UAE’s regulator — Securities and Commodities Authority (SCA) signed an accord with the Dubai World Trade Centre Authority (DWTCA). This deal states that the regulator will support crypto asset trading within the DWTCA’s free zone.

Maryam Al-Suwaidi, acting chief executive at the SCA said that now the DWTCA has the ability to approve and issue licenses for cryptocurrency-related activities. This is specifically for finance-related crypto-related activity.

The SCA will continue to support the DWTCA and inspect those who are licensed in the zone. The SCA may also perform investigations if required. Director-General of the DWTCA — Helal Saeed Almarri, says

Our agreement with the Securities and Commodities Authority will allow [the] DWTCA to broaden its regulatory…

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