Crypto to play 'major role' in UAE trade

 

UAE trade


According to the UAE’s minister of state for foreign trade Thani Al-Zeyoudi Crypto will play a “major role” in the United Arab Emirates' global trade moving forward 

UAE works on its crypto regulatory regime, the focus will be on making the Gulf country a hub with crypto-friendly policies that also have sufficient protections in place 

The principles outline a friendly stance towards crypto while also pledging to comply with international standards in Anti-Money Laundering (AML), combating the financing of terrorism (CFT) and supporting financial sanctions.

The UAE’s minister of state for artificial intelligence and the digital economy, Omar Sultan Al Olama also appeared at the World Economic Forum as part of a crypto-focused panel on Jan. 19.

Al Olama noted that while the FTX debacle was a major concern, the UAE still wants to be a hub despite the whole ordeal.

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