The Securities and Commodities Authority (SCA) and the Dubai World Trade Centre Authority (DWTCA) have entered into an agreement supporting the regulation, offering, issuance, listing and trading of crypto assets and related financial activities within DWTCA’s free zone.

The agreement establishes a framework that allows DWTCA to issue the necessary approvals and licenses for the conduct of financial activities relating to crypto assets. The agreement was signed by H.E. Dr. Maryam Al Suwaidi, Acting Chief Executive Officer of SCA, and H.E. Helal Saeed Almarri, Director General of Dubai World Trade Centre Authority (DWTCA) and Dubai Department of Tourism and Commerce Marketing (DTCM).

The Dubai World Trade Centre Authority provides a unique and well-regulated ecosystem for businesses seeking local and international opportunities, while the DWTCA Free Zone provides an ideal environment for startups, SMEs and corporations to operate locally while reaching international markets.

Tasked with monitoring and regulating the UAE’s financial markets, the SCA aims to build a sustainable investment environment and safeguard the rights of investors, promote sound practices, and create an environment that attracts capital, using innovative systems.

DWTCA has signed the agreement to expand its existing business licenses, services and incentives. In collaboration with DWTCA, SCA will handle the regulatory oversight of the issuance, offering, listing, and trading of crypto assets as well as the licensing of the associated financial activities that fall under DWTCA’s jurisdiction.

Under the agreement, SCA will oversee, monitor, and inspect entities operating within DWTCA’s free zone.

The SCA and DWTCA will exchange best practices relating to the project, as well as delivering mutual technical support to enhance their understanding of both organizations’ financial systems. The partnership will also include the provision of professional services that specify the responsibilities and obligations of both parties.