United Arab Emirates in crypto fever

 

According to the US news service Bloomberg, the country in the Middle East wants to reposition itself when it comes to crypto.

An anonymous government source revealed that the United Arab Emirates (UAE) wants to create a regulatory framework for crypto companies.

Accordingly, the government should distribute state licenses by the end of the first quarter in order to attract large players to the country and benefit from the market.

The country also wants to promote the mining sector. This should also fall under the planned regulation.

According to a report by analytics firm Chainalysis , the Middle East crypto market has grown by 1,500 percent. The UAE ranks third in the Middle East cryptocurrency ranking.

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