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Trishla Tyagi
Dec 20, 2021
by Trishla Tyagi

The Dubai World Trade Centre will Act as a Hub for Virtual Assets and Cryptocurrency

Dubai World Trade Centre
The Dubai World Trade Centre (DWTC) will become a complete zone and regulator for virtual assets and crypto, comprising digital assets, goods, operators, and exchanges, as part of the Dubai government's attempts to build a new economic sector. The Dubai World Trade Centre will provide a full environment for this forward-thinking industry in the city.

The Dubai World Trade Centre will work with the private sector and other relevant entities in Dubai to create a welcoming environment for the sector and to enforce strict standards for investor protection, anti-money laundering (AML), counter-terrorist financing (CFT) compliance, and cross-border deal flow tracing. The initiative, which is part of Dubai's attempts to further develop virtual assets and markets, involves developing a framework for novel financial products and embracing new trends such as non-fungible tokens (NFT) and cryptocurrencies that rely on advanced underlying blockchain technology.

The World Trade Center will deliver and oversee a new world-class regulatory framework of Virtual Asset legislative and enforcement policies, which will be critical to facilitating and broadening cross-border operations and ecosystem innovation in order to enable safe market adoption and growth for this sector in Dubai.

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The Dubai World Trade Centre will Act as a Hub for Virtual Assets and Cryptocurrency
Trishla Tyagi
Trishla is a crypto writer and social media aficionado. She has substantial experience in covering updates, events, and news related to the crypto space, along with rapidly expanding blockchain and financial technology markets. Her experience in the cryptocurrency market has led her to become a crypto hodler herself.

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