The UAE strives to become the cryptocurrency capital of the world

The United Arab Emirates has adopted new business policies to become the cryptocurrency capital of the world in the future.

According to Tekna technology and technology news service, UAE Foreign Minister Thani Al Zoudi spoke about the country’s efforts in the field of cryptocurrencies during an interview with Bloomberg in Switzerland, where the World Economic Forum is being held. He said: Cryptocurrencies are going to play an important role in the UAE. Many steps have been taken to prepare the UAE to become one of the global centers of digital currencies.

These measures are aimed at creating a trillion dollar market and attracting large capitals. He added that the UAE is going to become one of the largest cryptocurrency centers in the world. Also, the laws needed to expand the actions of the cryptocurrency sector are also being created.

In other explanations, he said that currently the important thing is to ensure global governance regarding cryptocurrencies and companies active in the market. Companies active in this field have now been recruited so that a suitable legal system can be created with their help.

Omar Sultan Al Ulama, the Minister of Artificial Intelligence of the United Arab Emirates, had previously announced that the recent fall of the cryptocurrency market will not change the goals of the United Arab Emirates.