The Dubai World Trade Center (DWTC), part of the Dubai government’s efforts to create a new business sector, will become a comprehensive zone for regulators, products, entrepreneurs and cryptocurrency exchanges. This was officially announced yesterday (December 20).
DWTC aims to create an advanced ecosystem in Dubai in collaboration with the private sector. The project also aims to enforce strict investor protection standards, such as anti-money laundering and counter-terrorist financing measures.
Rising efforts by Dubai and the UAE to actively increase support and development of the crypto market have actively contributed to the local economy benefiting from blockchain technologies such as tokens and NFTs.
The United Arab Emirates (UAE) is currently the largest cryptocurrency-friendly jurisdiction in the world, and Dubai has become a hotspot for the crypto world.