If you are familiar with Dhabicoin’s ever-evolving purpose and fundamentals, you know that we have been investing very heavily in the UAE from the very beginning.
Dubai authorities continue to drive cryptocurrency industry adoption, pushing for more regulatory approvals.
UAE financial regulators have reached an agreement to officially allow and support cryptocurrency trading in an economy-free zone in Dubai.
The Dubai World Trade Center Authority (DWTCA) announced on Wednesday (22) that it has signed an agreement with the Securities and Commodities Authority (SCA) of the United Arab Emirates to support regulation and cryptocurrency trading within the DWTCA free zone.
The new initiative establishes a framework that allows the DWTCA to issue the approvals and licenses required for financial activities related to cryptocurrencies. As part of the agreement, SCA will also oversee the core crypto-related activities such as issuance processes, listing, trading and licensing.
According to the announcement, the agreement was signed by the acting CEO of SCA, Maryam Al Suwaidi, by the Director General of the DWTCA, Helal Saeed Al Marri, and also by an executive from the Department of Tourism and Commercial Marketing from Dubai.
Dhabicoin has been working very hard to make the Utility Token useful, among the various utilities the use in the payment of leasing services has been a goal worked on by the new business development team.
With this evolution of the market and of decentralized finance, moving towards scale of use of digital assets, becomes very necessary for Dhabicoin select new Exchanges and create more exchange options for users of this Marketplace.
We disclosed in the last article, that it works for listing in a new Exchange already started and some steps are already underway.
We all know that the crypto asset market is not good…
An analysis on the portal of the magazine Exame by Future of Money, at the end of May 2022, already pointed out strong recent drops in the cryptocurrency market, causing the price of Bitcoin, for example, to fall more than 50% from its all-time high.
According to an analyst at BTG Pactual, new highs are unlikely in the short term.
And look at the moment this article is written, the main BTC cryptocurrency on the market is at USD 21,186.33 and falling. And many Exchanges are taking great care to list new assets, so it’s normal for certain processes to take a long time.
So far, the following items have been advanced in this listing process with the new Exchange selected by the Dhabicoin team.
- Application form > check
- Communication and media audit >check
- Project verification and compliance > in progress
- community audit
- Smart-contract Audit
- Audit Portfolios and distribution
- Internal team audit
- Governance policy audit
- Liquidity Analysis
- Uses of tokens in practice
- Marketing Making Analysis
- fund audit
- API’s Integration
- Block validation
- KYC Integration
- Stake standardization and configuration
- Choice of acronyms (This item is very important)
- marketing disclosure
- Exchange official announcement
- Opening for deposit
- Opening for negotiation
Any queries and questions, you can type here.
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