{"id":58656,"date":"2022-03-10T14:01:23","date_gmt":"2022-03-10T12:01:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=58656"},"modified":"2025-09-04T17:53:46","modified_gmt":"2025-09-04T14:53:46","slug":"dubai-adopts-cryptocurrency-regulation-and-establishes-a-regulatory-authority","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/dubai-adopts-cryptocurrency-regulation-and-establishes-a-regulatory-authority\/","title":{"rendered":"Dubai adopts cryptocurrency regulation and establishes a regulatory authority"},"content":{"rendered":"<p>Dubai authorities passed the virtual assets law and established a regulatory authority. This was announced by the emirate&#8217;s vice president and prime minister, Mohammed bin Rashid Al Maktoum.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Today, we approved the virtual assets law and established the Dubai Virtual Assets Regulatory Authority. A step that establishes the UAE\u2019s position in this sector. The Authority will cooperate with all related entities to ensure maximum transparency and security for investors. <a href=\\\"https:\/\/t.co\/LuNtuIW8FM\\\">pic.twitter.com\/LuNtuIW8FM<\/a><\/p>\n<p>\u2014 HH Sheikh Mohammed (@HHShkMohd) <a href=\\\"https:\/\/twitter.com\/HHShkMohd\/status\/1501566703322513408?ref_src=twsrc%5Etfw\\\">March 9, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n\\n\\n<\/p>\n<p>According to <a href=\\\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-09\/binance-is-said-to-be-in-talks-for-license-to-operate-in-dubai?sref=AACmJ2tc\\\">Bloomberg<\/a>, the world\u2019s largest cryptocurrency exchange by market cap, Binance is in talks for a license to operate in the emirate.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>The activity concerns providing virtual asset services in the free economic zone World Trade Centre Dubai (DWTC). Its financial authorities approved cryptocurrency trading in September 2021.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Binance\u2019s regional head for the Middle East and North Africa, Richard Teng, commented on the passage of the virtual assets law: <\/p>\n<p>\\n\\n\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;We welcome this important achievement. We will continue to work closely with DWTC to help Dubai build a world-class crypto-regulatory environment.\\&#8221;<\/p>\n<\/blockquote>\n<p>\\n\\n\\n\\n<\/p>\n<p>In December 2021 the exchange received a provisional approval as a provider of cryptocurrency services in Bahrain.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Earlier, Binance signed a memorandum of understanding with the DWTC administration to create an industry hub.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Media reported that Binance chief Changpeng Zhao purchased real estate in the emirate and suggested opening the company&#8217;s headquarters there.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dubai authorities passed the virtual assets law and established a regulatory authority. This was announced by the emirate&#8217;s vice president and prime minister, Mohammed bin Rashid Al Maktoum.<\/p>\n","protected":false},"author":1,"featured_media":58657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[272,36],"class_list":["post-58656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dubai","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=58656"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58656\/revisions"}],"predecessor-version":[{"id":58658,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58656\/revisions\/58658"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/58657"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=58656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=58656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=58656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}