It was signed by the "Securities" and the Dubai World Trade Center Authority

An agreement to regulate the offering, listing and trading of crypto assets

Maryam Al-Suwaidi and Hilal Al-Marri signed the agreement.

From the source

The Securities and Commodities Authority announced the signing of an agreement with the Dubai World Trade Center Authority, with the aim of regulating the offering, issuance, listing and trading of encrypted assets, and the conduct of related financial activities in the free zone of the Dubai World Trade Center Authority.

The agreement stipulates that the entities operating within the limits of the center's jurisdiction, which obtained a license or approval from the authority under this agreement, shall comply with the relevant regulations, policies and decisions related to the offering, issuance, listing and trading of encrypted assets and the conduct of related financial activities.

The developed regulatory framework established by the agreement also includes the provision of distinguished professional services, through a strategic partnership that defines the responsibilities and obligations of the two sides, and the provision of reliable and timely support to each party on any matters that fall within the scope of application of this agreement.

The agreement will contribute to driving growth in the operations of offering, issuing, listing and trading encrypted assets, and enhancing the uses of “Blockchain” in the UAE.

The Acting CEO of the Securities and Commodities Authority, Dr. Maryam Al-Suwaidi, said that “under the agreement, the authority will be responsible for the regulatory supervision of the offering, issuance, listing and trading of crypto assets, and the licensing of related financial activities, within the limits of the authority of the Dubai World Trade Center, and the authority will also It also supervises, monitors, inspects and investigates entities operating within the jurisdiction of the center, which have obtained a license or approval from the authority under this agreement.

For his part, Director General of the Dubai World Trade Center Authority, Helal Saeed Al Marri, said, "The center's authority is keen, by expanding the scope of its services, to enhance its position to become one of the preferred free zones for the international investment community and the entrepreneurial community."

He added, "As Dubai continues its quest to adopt a digital economy based on innovation, the Dubai World Trade Center Authority is seeking to support companies based on (blockchain) and cryptography technologies."

Al Marri continued: “With the emergence of new technologies such as non-fungible tokens, which are expected to play an important role in the future of trade, and based on our success in organizing the (Future of Blockchain Summit), which has received global recognition in this field, the Dubai Trade Center Authority It seeks to create a sustainable environment for this system in order to prepare for the future.”

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