{"id":37086,"date":"2021-10-10T04:19:35","date_gmt":"2021-10-10T04:19:35","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=37086"},"modified":"2021-10-10T04:20:15","modified_gmt":"2021-10-10T04:20:15","slug":"dubai-moves-to-become-crypto-industry","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/dubai-moves-to-become-crypto-industry\/","title":{"rendered":"Dubai moves to become Crypto industry"},"content":{"rendered":"<p>Dubai has taken another step toward becoming a global hub for cryptocurrency industry when it inked an agreement with the UAE\u2019s Securities and Commodities Authority (SCA) to trade crypto assets.<\/p>\n\n\n\n<p>The agreement will support the trading of crypto assets in the Dubai World Trade Centre Authority<\/p>\n\n\n\n<p>The oil-rich country has said that cryptocurrency will be integral to its ambitions to double its economy over the next decade.<\/p>\n\n\n\n<p>The agreement creates a framework for the Dubai World Trade Centre Authority (DWTCA) to license and acquire approvals for all cryptocurrency-related activities in the free zone. This will include issuing, listing, licensing and trading crypto.<\/p>\n\n\n\n<p>\u201cThe SCA will be responsible for the regulatory supervision of offering, issuing, trading and listing crypto assets and the licensing of financial activities related to them within the limits of the DWTCA free zone,\u201d the acting chief executive of the SCA, Maryam Al Suwaidi, told local media.<\/p>\n\n\n\n<p>The Gulf kingdom is hoping to leverage blockchain technology and cryptocurrencies in its quest to pursue a digital transformation.<\/p>\n\n\n\n<p>At the moment, the UAE\u2019s digital economy generates $27 billion and constitutes 4% of the country\u2019s GDP. As more crypto companies base themselves in Dubai\u2019s free zone, however, the emirate hopes to build a sustainable ecosystem for the industry\u2019s growth and expansion and capitalize on the success of NFTs in global commerce.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.thestreet.com\/crypto\/news\/dubai-free-zone-greenlights-crypto-trading?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=world_fzo_weekly_news_october_5&amp;utm_term=2021-10-10\" data-type=\"URL\" data-id=\"https:\/\/www.thestreet.com\/crypto\/news\/dubai-free-zone-greenlights-crypto-trading?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=world_fzo_weekly_news_october_5&amp;utm_term=2021-10-10\">More =The Street=<\/a><\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-37086\" data-postid=\"37086\" class=\"themify_builder_content themify_builder_content-37086 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>Dubai has taken another step toward becoming a global hub for cryptocurrency industry when it inked an agreement with the UAE\u2019s Securities and Commodities Authority (SCA) to trade crypto assets. The agreement will support the trading of crypto assets in the Dubai World Trade Centre Authority The oil-rich country has said that cryptocurrency will be [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[579,168],"class_list":["post-37086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign","tag-cryptocurrency","tag-dubai","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dubai moves to become Crypto industry - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/dubai-moves-to-become-crypto-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dubai moves to become Crypto industry - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"Dubai has taken another step toward becoming a global hub for cryptocurrency industry when it inked an agreement with the UAE\u2019s Securities and Commodities Authority (SCA) to trade crypto assets. The agreement will support the trading of crypto assets in the Dubai World Trade Centre Authority The oil-rich country has said that cryptocurrency will be [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thefreezonechannel.com\/old\/dubai-moves-to-become-crypto-industry\/\" \/>\n<meta property=\"og:site_name\" content=\"The Freezone Channel\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-10T04:19:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-10T04:20:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2018\/05\/crypto-currency.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"294\" \/>\n\t<meta property=\"og:image:height\" content=\"171\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"The Freezone Channel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Freezone Channel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/dubai-moves-to-become-crypto-industry\/\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/dubai-moves-to-become-crypto-industry\/\",\"name\":\"Dubai moves to become Crypto industry - 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