Blockchain related projects or blockchain investment rise in popularity and its applications become more and more diverse. Ignoring this fact is no longer an option! United Arab Emirates was among the countries that tried to neglect the new technological improvements.
Nowadays, it is one of the best countries to adopte and size the wealth of benefits that work towards favouring ease of doing business. The pillar of their 2021 strategy initiative has a critical eye to improve government efficiency, advanced legislation, and global entrepreneurship.
Regulation of blockchain projects is performed by the SCA (Securities and Commodities Authority). On 15 last month the commission announced that it has confirmed its first draft pertaining the digital asset regulations within the UAE.
After a call for financial and capital market entities, researchers, media, and stakeholders to provide their opinions on the draft.
The draft is available on the SCA website in English only and it is an important milestone for regulating dealing in digital assets in the UAE.