Lubomir Tassev reports in bitcoin.com that "authorities in the United Arab Emirates plan to establish a special zone at the Dubai World Trade Centre (DWTC) from which businesses dealing with digital assets will be able to offer their products and services. The government of Dubai announced that the DWTC will also play the role of a regulator for the sector, enforcing “rigorous standards for investor protection, anti-money laundering (AML), combating the financing of terrorism (CFT) compliance and cross border deal flow tracing.”
"Dubai authorities also emphasized that the DWTC will work together with the private sector and one such move is the collaboration with Binance. Dubai wants to license such crypto trading platforms and other blockchain businesses."
Source credit and full story - https://news.bitcoin.com/dubai-to-create-crypto-zone-binance-joins-effort/
Dubai has turned into a crypto hub and leading the adoption efforts of crypto and blockchain in the Arab world. By inviting international crypto businesses it will help collaborate the Arab crypto businesses and international crypto businesses, thereby helping speed up mainstream crypto adoption.
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