Dubai: As a part of the Dubai government’s efforts to create new economic sectors, it was announced today that the Dubai World Trade Centre (DWTC) will become a comprehensive zone and regulator for virtual assets and crypto including digital assets, products, operators and exchanges. 
The Dubai World Trade Centre will be designing a comprehensive ecosystem for this progressive sector within Dubai.
The Dubai World Trade Centre will collaborate with the private sector and relevant entities in Dubai to create an attractive environment for the sector, and enforce rigorous standards for investor protection, Anti Money Laundering (AML), Combating the Financing of Terrorism (CFT) compliance and cross border deal flow tracing.
The announcement, which is part of efforts to further develop Dubai’s virtual assets and markets, includes the creation of a framework for innovative financial products and adoption of new trends that rely on advanced underlying blockchain technology, such as non-fungible tokens (NFT) and cryptocurrencies.
The move further raises Dubai’s status as a leading global centre for business, trade and technology. The Dubai World Trade Centre will deliver and oversee a new world-class regulatory framework of Virtual Asset legislative and enforcement policies that will be critical to facilitating and broadening cross-border operations and ecosystem innovation to enable safe market adoption and growth for this sector in Dubai.