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First Time Dubai World Trade Centre Set Up As Specialised Crypto Zone

The Dubai World Trade Centre (DWTC) will become a crypto zone and regulator for cryptocurrencies and other virtual assets, the Dubai Media Office said on Monday, part of efforts to attract new business as regional economic competition heats up.

The move by the DWTC to create a specialised zone for virtual assets – including digital Asset products, operators and exchanges — is part of a drive by Dubai, one of the United Arab Emirates federation of seven emirates, to create new economic sectors, the statement said.

“Rigorous standards for investor protection, anti-money laundering, combating the financing of terrorism, compliance and cross border deal flow tracing,” will be developed, it said.

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