Crypto Will Play a Significant Role in UAE Trade – Foreign Trade Minister

Crypto Will Play a Significant Role in UAE Trade – Foreign Trade Minister

Share Post:

Thani Al-Zeyoudi, the UAE foreign trade minister while speaking to Bloomberg at a recent World Economic Forum in Switzerland, confirmed that crypto will play a “major role” in UAE trade.

While speaking about the crypto sector, the minister said;

“Crypto will play a major role for UAE trade going forward,” as he outlined that “the most important thing is that we ensure global governance when it comes to cryptocurrencies and crypto companies.”

He however furthered that as the Emirates works on its crypto regulation, the focus will be on making the countries in its region a crypto hub through crypto-friendly policies with adequate protections in place.

 “We started attracting some of the companies to the country with the aim that we’ll build together the right governance and legal system, which are needed.”

In addition to the above, the minister also commented on the assertions that UAE cities like Dubai will be the sitting ground for failed crypto exchanges, which according to him, “bad actors don’t have a nationality and don’t have a destination.”

The al-Zeyoudi statements came a few days following the introduction of new regulatory requirements by the UAE cabinets that will henceforth require crypto firms seeking to be operating in the country be licensed and approved by the regulatory body of the country  Virtual Asset Regulatory Authority (VARA) before they are permitted in UAE.

Crypto firms that fail to adhere to the requirements will be fined $2.7 million, as stated by the new regulation.

However, you can get life-changing crypto signals from experts with many years of experience in trading cryptocurrency on Binance, Kucoin and Bybit exchanges, excellent reviews from our clients have been our motivation over the years, join our ParadiseFamilyVIP and crypto will be your savior in settling those bills ahead of you.

Use PRO20% for your special 20% discount today as the promo expires soon. Click here to see reviews from our clients.

Join our telegram channels where we share our FREE updates and analysis on coins like BTC, ETH, and other trending altcoins. We also share our FREE secret insights, and also FREE market updates.

Notify of

Inline Feedbacks
View all comments

Recent Articles

Follow Us

Trade Crypto Like a PRO

Decrease the risk of losing everything you have.

A team of 4 professional traders is sharing their personal daily trade setups with you.

Imagine finally having the right strategy, insights and knowledge to profit from the volatile crypto market movements consistently.

Safe Time, and Start Trading Like a PRO Today
Dark Mode