The cryptocurrency markets are not growing as the emphasis of many investors is now moving towards BUIDL and transportation into the real value of the cryptocurrency business. Knowing that many controllers have also developed as energetic and are becoming more assertive about their posture on cryptocurrencies, blockchains and ICO. The last of these statements comes from the United Arab Emirates, where the regulator made sure that, at the beginning of 2019, they will start a new regulation for ICOs.
According to the ICO regulatory body, our concern, Bitcoin, Ethereum and others are not our business, states that:
According to the latest news published on Coingape by the news from the Middle East, the United Arab Monetary Controller, the Securities and Commodities Authority, is preparing to start and begin initial money supply guidelines (ICO) ) in the country by the end of the first half of 2019. This move by the regulator is intended to offer companies another opportunity to increase capital through crowdfunding. Although executives have said that these guidelines will only refer to ICOs, because what happens to other cryptocurrencies is not their concern.
Obaid Al Zaabi, SCA's Chief Executive Officer, told The National news agency, "Bitcoin, Ethereum and others are not our business." We are more concerned about the issue of crypto and how take them for trade in our exchanges, "he said. SCA is the leading expert in managing and controlling the markets and has approved ICOs as securities and will work with the Abu Dhabi Stock Exchange and the Dubai Financial Market to develop ICO trading platforms next year.
Obaid Al Zaabi, the managing director of the SCA also stated that we had signed agreements with law firms to develop sandboxes and regulations for the issuance of ICOs.
A "regulatory sandbox" is a structure that facilitates the development of the financial technology industry. Bahrain, another Middle Eastern country, has been thriving in the implementation of a fintech sandbox. Blockchain has become a problem that could add value to the markets and infrastructure of existing UAE systems.
"It will introduce further levels of security and efficiency, especially fast-moving local markets and volatile financial markets need international technologies such as blockchain to increase transaction speed and reduce overall costs," management has already applied systems and paces to in this regard, he subsequently launched two ill-treated public platforms. Revitalizing the technological ecosystems of the United Arab Emirates blockchain and artificial intelligence (AI).
The United Arab Emirates regulatory authority, being so affirmative in its approach, has not just defined a solid plan on how it intends to regulate cryptids in the United Arab Emirates, but has also given a roadmap to other nations to follow the same and accept the newest money with both hands. Likewise, the Gibraltar island nation between Morocco and Spain has become one of the conventional sources for all cryptocurrencies.