With the growth of crypto and NFTs in recent years, the digital world has accelerated, and the UAE has followed suit. Sheikh Mohammed introduced the Dubai Virtual Assets Regulation Law, which regulates everything from digital data & NFTs to cryptocurrency and price manipulation.
Today, we approved the virtual assets law and established the Dubai Virtual Assets Regulatory Authority. A step that establishes the UAE’s position in this sector. The Authority will cooperate with all related entities to ensure maximum transparency and security for investors. pic.twitter.com/LuNtuIW8FM
— HH Sheikh Mohammed (@HHShkMohd) March 9, 2022
HH Sheikh Mohammed bin Rashid Al Maktoum also approved the establishment of a new independent authority to manage the regulation, licencing, & governance of virtual assets, non-fungible tokens (NFTs), and cryptocurrencies. The new authority, which will be housed at the Dubai World Trade Centre, will protect personal data and oversee digital transactions.
FOLLOW US ON OUR SOCIALS
