Dubai Emirate Installs its Own Crypto Regulator

[mlawson71]

Dubai is introducing its very own cryptocurrency regulator which will be overseeing the use and trade of various crypto assets within its jurisdiction.

The new regulator is called Dubai Virtual Assets Regulatory Authority, it is formed under the Dubai Virtual Asset Regulation Law and it will be overseeing all cryptocurrency assets as well as NFTs in the emirate. That was announced by the ruler of Dubai, Sheikh Mohammed Bin Rashid.

He said “The future belongs to whoever designs it… and today, through the virtual assets law, we seek to participate in the design of this new and rapidly growing global sector.”
Source
Crypto popularity has only increased in recent years, I imagine such a move would be necessary for all big financial hubs.

 

[bnlemekoane]

Dubai is introducing its very own cryptocurrency regulator which will be overseeing the use and trade of various crypto assets within its jurisdiction.

The new regulator is called Dubai Virtual Assets Regulatory Authority, it is formed under the Dubai Virtual Asset Regulation Law and it will be overseeing all cryptocurrency assets as well as NFTs in the emirate. That was announced by the ruler of Dubai, Sheikh Mohammed Bin Rashid.

He said “The future belongs to whoever designs it… and today, through the virtual assets law, we seek to participate in the design of this new and rapidly growing global sector.”
Source
Crypto popularity has only increased in recent years, I imagine such a move would be necessary for all big financial hubs.

This is a new era of digital interactions so thus far all this cryptos would b profitable at some point

 

[grahammiranda13]

This would be a game changer but I wonder about the adoption rate

 

[kjlfjkljk]

honestly we are in a bear market right now so no major moves will happen for a long time. once we leave the bear market, we shall see