{"id":466,"date":"2021-12-20T13:37:28","date_gmt":"2021-12-20T13:37:28","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=466"},"modified":"2021-12-20T13:37:29","modified_gmt":"2021-12-20T13:37:29","slug":"dubai-world-trade-centre-to-create-new-crypto-hub-and-become-regulator","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=466","title":{"rendered":"Dubai World Trade Centre to create new crypto hub and become regulator"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>The United Arab Emirates (UAE) continues to emerge as one of the world\u2019s biggest cryptocurrency-friendly jurisdictions as the government of Dubai has a new initiative to support local crypto development and regulation.<\/p>\n<p>The Dubai World Trade Centre (DWTC), a government-owned event and exhibition venue in Dubai, will become a comprehensive zone and regulator of cryptocurrencies, products, operators and exchanges, DWTC officially announced Dec. 20. <\/p>\n<p>As part of the initiative, the DWTC will design a comprehensive ecosystem for this progressive sector within Dubai and collaborate with the private sector to set up an \u201cattractive environment for the sector.\u201d The project also aims to enforce rigorous standards for investor protection, Anti-Money Laundering measures and combating the financing of terrorism, the DWTC stated.<\/p>\n<p>\u201cThe World Trade Center will deliver and oversee a new world-class regulatory framework of Virtual Asset legislative and enforcement policies,\u201d the statement reads.<\/p>\n<p>Cointelegraph reached out to the DWTC and will update the story pending new information.<\/p>\n<p>Binance CEO Changpeng Zhao was among the first people in the crypto community to celebrate the new announcement from the DWTC. Zhao has apparently been growing interested in the crypto ecosystem in the UAE as he reportedly bought his first home in Dubai in October.<\/p>\n<p lang=\"en\" dir=\"ltr\">\u00bb Dubai World Trade Centre to become comprehensive zone and regulator for virtual assets and Crypto https:\/\/t.co\/Ndr6GDcJ4u<\/p>\n<p>\u2014 CZ  Binance (@cz_binance) December 20, 2021<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>UAE regulators approve crypto trading in Dubai free zone<\/em><\/strong><\/p>\n<p>The initiative comes in line with Dubai\u2019s growing efforts to support the crypto development as both Dubai and the UAE have been actively working for the local economy to benefit from\u00a0blockchain technology as well as nonfungible tokens and cryptocurrencies.<\/p>\n<p>In January, The Dubai Financial Services Authority was planning to set up a crypto regulatory framework as part of its 2021 business plan. The authority has issued a series of regulatory approvals for the crypto industry so far, while Dubai became a spot for several free economic zones for crypto.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/dubai-world-trade-centre-to-create-new-crypto-hub-and-become-regulator\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The United Arab Emirates (UAE) continues to emerge as one of the world\u2019s biggest cryptocurrency-friendly jurisdictions as the government of Dubai has a new initiative to support local crypto development and regulation. The Dubai World Trade Centre (DWTC), a government-owned event and exhibition venue in Dubai, will become a comprehensive zone and regulator of cryptocurrencies, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":467,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=466"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/466\/revisions"}],"predecessor-version":[{"id":468,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/466\/revisions\/468"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/467"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}