Crypto to play 'major role' in UAE trade: foreign trade Minister
UAE’s minister of state for foreign trade Thani Al-Zeyoudi noted that as the country has attracted a lot of talent from the crypto sector, the UAE now needs to roll out the correct regulation to support further growth.
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Crypto will play a “major role” in the United Arab Emirates' global trade moving forward, says the UAE’s minister of state for foreign trade Thani Al-Zeyoudi.
Speaking with Bloomberg on Jan. 20 in Davos Switzerland — where world leaders are currently gathered for the 2023 World Economic Forum — Al-Zeyoudi provided a host of updates regarding the UAE’s trade partnerships and policies heading into 2023.
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Commenting on the crypto sector, the minister stated that “crypto will play a major role for UAE trade going forward,” as he outlined that "the most important thing is that we ensure global governance when it comes to cryptocurrencies and crypto companies.”
Al-Zeyoudi went on to suggest that as the UAE works on its crypto regulatory regime, the focus will be on making the Gulf country a hub with crypto-friendly policies that also have sufficient protections in place:
“We started attracting some of the companies to the country with the aim that we’ll build together the right governance and legal system, which are needed.”
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