The agreement will support the regulation and trading of crypto assets within the free zone
Dubai Airport Free Zone Authority (DAFZA) has recently signed an agreement with the Securities and Commodities Authority (SCA). The agreement will support the regulation, offering, issuance, listing and trading of crypto assets within the free zone.
The agreement was signed by Dr. Maryam Al Suwaidi, Acting CEO of the Securities and Commodities Authority and Amna Lootah, Assistant Director-General, DAFZA.
The new agreement allows companies trading with crypto assets cryptocurrencies to be licensed within DAFZA as the SCA will be issuing the relevant approvals and licenses.
In cooperation with DAFZA, the Securities and Commodities Authority oversees the offering, issuance, listing and trading of crypto assets and licensing related financial activities within the jurisdiction of DAFZA.
“The signing of the agreement confirms the two parties’ keenness to develop its cooperation in common areas of work, which contributes to achieving the objectives of the national agenda and the government’s strategy to enhance economic growth,” affirmed Dr. Maryam Al Suwaidi.
“Cryptocurrencies and crypto assets have moved from the stage of showing interest to direct investment, which have got acceptance and investments from key global companies,” added Amna Lootah.
The demand for cryptocurrencies and crypto assets is set to accelerate rapidly in the near future in the UAE and other GCC countries, as global trading volumes for crypto assets continue to soar. Cryptocurrencies have fuelled demand for real estate investments as early adopter investors who grew rich from digital currency look to diversify their assets.
