The Securities and Commodities Authority (SCA) has announced the signing of an agreement with the Dubai World Trade Center Authority, with the aim of regulating the offering, issuance, listing and trading of encrypted assets and the conduct of related financial activities in the free zone of the Dubai World Trade Center Authority.
The agreement was signed by Dr. Maryam Al Suwaidi, Acting CEO of the Securities and Commodities Authority, and Helal Saeed Al Marri, Director General of the Dubai World Trade Center Authority.
Following the signing, Dr. Maryam Al-Suwaidi stated that the signing of the agreement comes within the framework of work under the directives of His Excellency Abdullah bin Touq, Minister of Economy and Chairman of the Board of Directors of the Securities Authority, to strengthen and develop cooperation and exchange experiences and knowledge in the areas of joint work with various government departments, authorities and institutions
Al Suwaidi noted that under the agreement, the authority will be responsible for the regulatory supervision of the offering, issuance, listing and trading of encrypted assets and the licensing of related financial activities within the jurisdiction of the Dubai World Trade Center.
She added: “The authority will also supervise, control, inspect and investigate entities operating within the jurisdiction of the center and that have a license or approval from the authority under this agreement.”