Crypto Oasis to host 1,000 blockchain firms by Q2 2022 as Dubai’s new virtual assets law spurs sector growth – ArabianBusiness
- Date: 14-Mar-2022
- Source: Arabian Business
- Sector:Technology
- Country:UAE
Crypto Oasis to host 1,000 blockchain firms by Q2 2022 as Dubai’s new virtual assets law spurs sector growth – ArabianBusiness
The Dubai Multi Commodities Center (DMCC) now hosts more than 230 blockchain-specific organisations, while the Middle East-based blockchain ecosystem Crypto Oasis is expected to cross its target of 1,000 organisations by Q2 2022.
The growth in the sector is likely to be further supported by forward-looking regulations, including the Dubai Virtual Assets Regulation Law, which was announced by Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of UAE and Ruler of Dubai.
The first-of-its-kind law to regulate virtual assets in Dubai will present an advanced legal framework to protect investors and promote responsible business growth within a virtual asset (VA) industry governance.
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