UAE: Crypto firms to set up in Dubai free zone

editorial March 20, 2021

Less than a minute

The Dubai MultiCommodities Centre (DMCC), a free zone dedicated to commodities trade and enterprise, will establish a regulatory framework for businesses offering, issuing, listing, and trading crypto assets.

A memorandum of understanding (MoU) was signed by the Securities and Commodities Authority (SCA), which will see businesses dealing with crypto assets gain access to bespoke licences offered by the DMCC Crypto Centre.

The SCA will issue approvals for crypto-related businesses looking to set up in the free zone.