Dubai World Trade Centre to set up ecosystem virtual assets, crypto

To enforce standards for investor protection

Dubai World Trade Centre (DWTC) will become a comprehensive zone and regulator for virtual assets and crypto including digital assets, products, operators and exchanges, as part of the emirate's efforts to create new economic sectors.

DWTC will design a comprehensive ecosystem for the sector, a Dubai Media Office statement said on Monday.

It will enforce rigorous standards for investor protection, anti-money laundering, combating the financing of terrorism compliance and cross border deal flow tracing.

The moves are part of the efforts to develop Dubai’s virtual assets and markets, adopting new trends that rely on advanced underlying blockchain technology, such as non-fungible token (NFT) and cryptocurrencies, it added.