Abu Dhabi aims to become a crypto hub alongside Dubai, in a move that's part of a larger goal to foster initiatives in the broader blockchain and digital asset realm.Abu Dhabi, the second-most populous emirate in the UAE, has introduced a formal regulatory framework for Decentralized Autonomous Organizations and other digital ledger entities as it doubles down on its ambition to be a leader in digital asset innovation within the Middle East.
Chairman of ADGM, His Excellency Ahmed Jasim Al Zaabi, in the statement, emphasized Abu Dhabi’s rapid transformation into a hub for digital asset innovators, underlining a dedication to nurturing an ecosystem that fosters technological progress. The ADGM’s endeavor not only elevates Abu Dhabi’s reputation as a forward-looking legal jurisdiction but also offers substantial advantages to the broader Web3 community. By promoting improved governance and acknowledging the decentralized principles of this sector, Abu Dhabi sets a precedent for international financial hubs.Abu Dhabi is actively competing to establish itself as a cryptocurrency hub, aligning with Dubai’s endeavors to embrace the digital assets sector.
As previously reported by Cointelegraph, an economic free zone dedicated to digital and virtual asset service providers in emerging technologies such as the metaverse, blockchain, utility tokens, virtual asset wallets, nonfungible tokens, DAOs, decentralized applications and other Web3-related businesses was
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Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: Cointelegraph - 🏆 562. / 51 Read more »