With growing in interest in latest innovations, the UAE always fits and leads the trend in technological advancement. There are blockchain developers in the UAE and many Fintech platforms using blockchain and artificial intelligence.
However, the cryptocurrency has still controversy around and registering an entity related to cryptocurrency was a suspicious trend in the past. Crypto trend is going wider now. As an example, the People's Bank of China has started using its national digital currency to perform simulated transactions between it and commercial banks. Also, the bank is planning to use blockchain to bring more transparency in transactions.
Following our last update on ICO regulations, we had questions from the readers on the possibility to register for such. Now, the good news that Dubai free zone has introduced the new activity meeting the requirements of the majority players in this field.
The activity is related to crypto commodities trading developed on distributed ledger technology application. However, the activity does not include acting as an exchange or any financial service.
If you would like to know more about the activity and possibilities, our team will be happy to consult more on this matter.