Arab Emirates announce new crypto-laws
In the Arabian region not only many investors are enthusiastic about Bitcoins and other Coins. Also the states understand strengthened the chances of the market. The Arab Emirates want to set 2019 legal switches.
VAE government wants to attract blockchain companies
It is well known that oil-producing countries are gradually having to look for alternative sources of income. The end of reserves is foreseeable, so that new ways must be sought early to secure the flow of money from home and abroad. While Dubai focuses primarily on tourism, the United Arab Emirates has long been seeking its salvation in the technology sector – local investors have been showing great interest in crypto currencies from Bitcoin to Zcash since the beginning of the boom in the region. The Emirates would like to secure a large slice of the pie and ensure that companies with blockchain developments and other services in connection with the crypto market will increasingly settle in the country through a number of legislative changes in the coming year.
Fitting rules and regulations for trading centres and ICOs
The new legislation was announced at the beginning of the week. One sub-area will be clear legal provisions for the introduction of new tokens within the framework of the Initial Coin Offerings (ICO). In addition, the government wants to create provisions to regulate trading venues and exchanges for trading ethereum, stellar and all the other currencies. Several experts in recent months have indicated that the United Arab Emirates is an important location for the future.
Is Europe about to lose the connection?
For the simple reason that the state is much more open than many other countries when it comes to recognising the market and new digital currencies. Trade media are also reporting on collaborations between different countries in the region these days, punctually at the turn of the year. Once again, the European community in particular should attach importance to not missing out on the international crypto elite. Malta, for example, is still regarded as a promising country for Europe’s crypto companies due to its legal openness to innovations and new technologies.
