Binance CEO: Dubai World Trade Centre to Become Comprehensive Crypto Hub

Binance CEO
News

  • The Dubai World Trade Center will be designed to become a one-stop crypto center in the United Arab Emirates.
  • The CEO of Binance gave this clue in a tweet.
  • Dubai World Trade Center will welcome crypto products, operators and exchange services to the country.

Binance CZ has hinted that the Dubai World Trade Center (DWTC) will become a hub for incubating and regulating virtual assets and cryptocurrencies in the UAE.

He revealed the DWTC’s rapid movement in the world of digital finance in a tweet. DWTC will emphatically embrace and welcome a wide range of crypto products, operators and exchange services in the country, according to CZ.

To foster breakthroughs in crypto services and innovations, the Dubai World Trade Center will design a seamless and comprehensive ecosystem to achieve its crypto goal in Dubai. Additionally, it will work with the private sector in Dubai to create a serene crypto environment.

Additionally, Dubai World Trade Center will do this by enforcing crypto standards for investor protection and anti-money laundering (AML). By doing this, the DWTC aims to fight Financing of Terrorism (CFT) compliance and other existing fintech inequalities in the UAE.

According to a advertisement, DWTC will use this time judiciously to develop Dubai’s virtual asset landscape and its crypto market. It will do this by creating a suitable framework for innovative financial products and services like NFT that are powered by blockchain.

The step continues to accelerate Dubai’s position as a leading global center for business, commerce and technology, the World Trade Center will deliver and oversee a new world-class regulatory framework of legislative and Virtual Assets enforcement policies, it will be critical to facilitate and expand Cross-border operations and ecosystem innovation to enable safe market adoption and growth for this sector in Dubai.

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