SCA inks pact on cryptocurrency trading

DUBAI. The Securities and Commodities Authority (SCA) and the Dubai World Trade Centre Authority (DWTCA) have entered into an agreement supporting the regulation, offering, issuance, listing and trading of crypto assets and related financial activities within DWTCA’s free zone.

The agreement establishes a framework that allows DWTCA to issue the necessary approvals and licences for the conduct of financial activities relating to crypto assets. The agreement was signed by Dr. Maryam Al Suwaidi, Acting CEO of SCA, and Helal Saeed Almarri, Director General of Dubai World Trade Centre Authority (DWTCA) and Dubai Department of Tourism and Commerce Marketing (DTCM). The DWTCA provides a unique and well-regulated ecosystem for businesses seeking local and international opportunities, while the DWTCA Free Zone provides an ideal environment for start-ups, SMEs and corporations.