Dubai World Trade Centre Authority (DWTCA) publicised its plan to support crypto asset trading, offering, listing, regulation and issuance, as well as crypto-related financial activities within its free zone — in an effort to progress towards innovation and digital-led economy.
This announcement came after the signing of an agreement between the Securities and Commodities Authority (SCA) and the DWTCA. As part of the contract, DWTCA will be authorised to issue the approvals and licenses necessary for financial activities that involve crypto assets.
Additionally, SCA will be supervising, monitoring, and inspecting entities operating within DWTCA’s free zone.
With the rise of new technologies such as non-fungible tokens set to play an important role in the future of commerce, and building on the Future Blockchain Summit, DWTCA is also pursuing ways to offer a sustainable home for this ecosystem, in order to stay future ready.
Helal Saeed Almarri, Director-General of DWTCA
DWTCA is working to attract blockchain and cryptographic technology companies into setting up bases within the free zone in order to promote the country’s digital economic transformation.