DMCC free zone and Government of Dubai Authority on commodities, trade and enterprise signed an MoU with the Securities and Commodities Authority (SCA) to establish a regulatory framework for businesses offering, issuing, listing, and trading crypto assets in DMCC. Working closely with DMCC’s onboarding teams, the SCA will issue approvals for crypto-related businesses seeking to establish themselves in DMCC. The SCA will subsequently regulate the crypto activities in line with their policies that were introduced in October 2020 to develop an integrated ecosystem for the crypto and blockchain industries. In 2020, DMCC launched DigitalSugar, a blockchain-enabled trading platform for sugar, and the Agriota e-Marketplace, an Agri-commodity trading and sourcing platform that uses blockchain to help bridge the gap between millions of rural farmers in India and the UAE’s food industry.
Through this agreement with the SCA, DMCC is expanding its current range of crypto assets licenses, which perfectly complement the existing business license options. An agreement with CV VC and CV Labs, a Swiss Government-supported initiative that will bring the world’s leading blockchain and cryptographic technologies’ ecosystem to Dubai. This agreement also builds the foundation for our future partnerships in the crypto space and is a major step in the launch of the DMCC Crypto Centre, which we will bring to the market in the near future.