The city recently passed legislation and set up a regulatory body to promote cryptocurrencies. Cryptocurrency exchange Bybit announced on Monday that it would be moving its headquarters from Singapore to Dubai. Dubai is ramping up to become the crypto capital of the world as two more crypto companies have set up their offices in the city-state.
What are the best crypto exchanges in Dubai?
Although Telegram has a global presence, its headquarters is in Dubai primarily due to the UAE’s tax-free zone, which allows the organization to grow without being encumbered by tax regulations. 2. BitOasis Founded in 2015, Dubai-based BitOasis is one of the largest crypto exchanges in the Middle East market.
Is Dubai a crypto hub free zone?
The Dubai International Financial Center, a financial hub free zone. The Dubai Multi Commodities Center, established in 2002 as a hub for the global commodities trade. It is thus unsurprising that crypto exchanges flock to Dubai and that industry bigwigs love the crypto-friendly vibes in the desert.
How Dubai is encouraging the growth of the crypto sector?
As regional economic competition heats up, Dubai has been encouraging the growth of the crypto sector by creating a regulatory environment to attract crypto businesses and talent to the city. Also Read: BJP MP suggests increasing tax rate on crypto during parliament session
