UAE stock market regulator, Dubai World Trade Centre Authority sign agreement to support crypto assets trading

dwtca, agreement, sca, crypto, assets,
UAE

UAE stock market regulator, Dubai World Trade Centre Authority sign agreement to support crypto assets trading

UAE’s Securities and Commodities Authority (SCA) and the Dubai World Trade Centre Authority (DWTCA) have signed an agreement to support crypto assets trading and related financial activities within DWTCA’s free zone. The agreement establishes a framework that allows DWTCA to issue the necessary approvals and licenses for financial activities relating to crypto assets. According to the agreement, SCA will oversee, monitor, and inspect entities operating within DWTCA’s free zone. DWTCA has signed the agreement to expand its existing business licenses, services and incentives. In collaboration with DWTCA, SCA will handle the regulatory oversight of the issuance, offering, listing, and trading of crypto assets as well as the licensing of the associated financial activities that fall under DWTCA’s jurisdiction. The SCA aims to build a sustainable investment environment and safeguard the rights of investors, as well as promote sound practices, a statement said. Meanwhile, the DWTCA offers a well-regulated ecosystem for businesses seeking local and international opportunities, while its freezone provides an environment for startups, SMEs and corporations to operate locally while reaching international markets. Dr. Maryam Al Suwaidi, acting chief executive officer of SCA, said: “The agreement comes in response to directives from Abdulla bin Touq Al Marri, Minister of

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