Binance, the world’s leading cryptocurrency exchange, has signed an agreement with the Dubai World Trade Centre Authority (DWTCA) to lay down the vision of accelerating the set-up of a new hub for the digital asset industry.
- CryptoPotato reported earlier that Dubai authorities declared that the Dubai World Trae Center will become a comprehensive zone, as well as a regulator for digital assets – including cryptocurrencies, products, and exchanges.
- Today, Binance – the world’s leading cryptocurrency exchange – announced that it had signed an agreement with the Dubai World Trae CEntre Authority (DWTCA) – the newly formed entity – to establish a hub for the digital asset industry.
- The document – a Memorandum of Understanding (MoU) – will allow Binance to help Dubai advance its commitment to establishing an ecosystem for virtual assets that will generate long-term economic growth.
- The move seems entirely in line with the previous announcement, which stated that “the Dubai World Trae 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.”