– UAE Trade Minister Thani Al-Zeyoudi has expressed that crypto will play a major role in the economic development of the UAE.
– The UAE Minister of State for Artificial Intelligence (AI) and the Digital Economy, Omar Sultan Al Olama, spoke at the 2023 World Economic Forum panel on crypto.
– The UAE is putting in efforts to attract large companies across the world to build the right governance and legal system needed to support the crypto industry in the country.
The UAE is looking to embrace the cryptocurrency industry as stated by the Minister of State for Foreign Trade, Thani Al-Zeyoudi. Al-Zeyoudi expressed his sentiments during an interview with Bloomberg at the 2023 World Economic Forum held at Davos Switzerland where he spoke about the UAE’s foreign trade with other countries, its non-oil trade in rupees with India, and more partnerships with China. He also discussed the policies around taxes and crypto being put in place in the UAE.
The Minister of State for Foreign Trade highlighted the importance of having global governance in place when it comes to cryptocurrencies and crypto companies. He further expressed that the UAE, particularly Dubai, has been putting in efforts to attract large companies across the world to build the right governance and legal system needed to support the crypto industry in the country.
At the 2023 World Economic Forum, the UAE Minister of State for Artificial Intelligence (AI) and the Digital Economy, Omar Sultan Al Olama, was part of the crypto-focused panel where he addressed the current status of the UAE’s crypto industry. He expressed that the UAE was still actively working on becoming a crypto-hub destination. Al Olama emphasized the importance of having the right regulations in place to ensure that the crypto industry is properly regulated and secure for all involved.
The UAE is continuing to move forward in its goal of becoming a crypto-hub and embracing the cryptocurrency industry. With the UAE’s friendly stance towards cryptocurrencies, it is poised to become a major player in the crypto industry and drive the global adoption of digital currencies.