Dubai Charts a New Course in the Digital Age

Dubai Charts a New Course in the Digital Age

K Raveendran The Dubai International Financial Centre’s (DIFC) enactment of the world’s first comprehensive digital assets law this week marks a milestone, not just for the world of cryptocurrency and blockchain technology, but also for Dubai’s ambitions within the knowledge economy. This bold move positions Dubai as a frontrunner in regulating and facilitating the growth of this nascent asset class, potentially solidifying its position as a global […]

via Dubai Charts a New Course in the Digital AgeK Raveendran

The Dubai International Financial Centre’s (DIFC) enactment of the world’s first comprehensive digital assets law this week marks a milestone, not just for the world of cryptocurrency and blockchain technology, but also for Dubai’s ambitions within the knowledge economy. This bold move positions Dubai as a frontrunner in regulating and facilitating the growth of this nascent asset class, potentially solidifying its position as a global hub for innovation and financial technology (FinTech).

The decision comes at a critical juncture. The Middle East and North Africa (MENA) region is witnessing a surge in interest towards digital assets. Countries like Bahrain and Saudi Arabia have also launched initiatives to explore and potentially regulate the space. However, Dubai’s comprehensive approach, establishing legal clarity around ownership, transfer, and