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Why the UAE Could be the First Middle East Country to Regulate Crypto-Trading

UAE regulators

By David Drake The market regulator in Abu Dhabi has started exploring the exciting possibilities of crafting a regulatory framework for cryptocurrency intermediaries and exchanges in the United Arab Emirates. The regulator, Financial Services Regulatory Authority (FSRA), has indicated the framework will be robust and risk-appropriate to enable it to supervise and regulate cryptocurrency exchange activities. Based on these developments, will the United Arab Emirates (UAE) become the first country to regulate cryptocurrency in the Middle East? “I think it will and this is great for the crypto space,” says Michael Collins, co-founder and CEO at GN Compass. In doing so, the UAE will also pave way for other countries in the region to embrace regulation. “I have no doubt that other countries in the region will follow suit,” Collins adds. Agreeing that the UAE is well on its path to regulating cryptocurrency, Graeme Moore, VP of Marketing at Polymath, notes that the technology ... Read More »

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