Details Of The Agreement The United Arab Emirates’ Securities and Commodities Authority has signed an agreement with the Dubai World Trade Centre Authority (DWTCA). This agreement aims to support the regulation and trading of cryptocurrencies in DWTCA’s economic-free zone. Emirates news agency (WAM) reported this on Wednesday.
As part of the agreement, the SCA will also oversee major crypto-related activities. These include supervising the issuance, offering, listing, and trading of cryptocurrencies. As well as the licensing of the associated financial activities that fall under DWTCA’s jurisdiction. Acting CEO of SCA Dr. Maryam Al Suwaidi and Director-General of the DWTCA and Dubai Department of Tourism and Commerce Marketing (DTCM), Helal Saeed Al Marri, signed the agreement.
The agreement establishes a framework that allows the DWTCA to issue the necessary approvals and licenses for the conduct of financial activities relating to cryptocurrencies.