UAE - Mubasher: The Dubai Airport Free Zone Authority (DAFZA) has entered into an agreement with the Securities and Commodities Authority (SCA) to support the regulation, offering, issuance, listing, and trading of crypto assets within the free zone, according to the Dubai media office.
Under the agreement, companies trading with crypto assets and cryptocurrencies will be licensed within DAFZA through the SCA's issuance of approvals and licenses.
The partnership will enable DAFZA to expand its business licenses and commercial activities that will be integrated with the incentives and services at the free zone, in addition to accelerating growth in the cryptocurrency sector and improving the use of blockchain in Dubai and the UAE.
The Acting CEO of the SCA, Maryam Al Suwaidi, said: "This initiative supports both entities to achieve its strategic and organisational goals. It aims to exchange technical support in order to enhance the ability of the two parties to mutual understanding and familiarity with the financial systems both entities use."
Meanwhile, the Assistant Director-General of DAFZA, Amna Lootah, commented: "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. This will require us to keep pace with this transformation and to follow the new economic era."
