United Arab Emirates (UAE) could be the next center of pro-block development with ICO regulations that will appear in mid-2019, according to a column published by The National, experts say.
United Arab Emirates (UAE) is in line with other countries, such as Malta and Gibraltar. Which are seeking a regulatory standard for the blockchain industry and its
While most of the world’s major economies are still thinking about the position of policies related to crypto-currencies and ICOs. The State gives an advantage to others.
According to the UAE news source, it is an important enterprise to be “the second largest Arab economy” in adopting blockchain standardization, since it places the country “on the growing list of global regulators that have decided to standardize ICOs. “
Andrea Bonaceto, CEO of Eterna Capital, a fund management company based in London. Also shares the sentiment by noting that “the UAE is at the forefront of the industry”. Its raison d’etre is that it is “one of the first jurisdictions to want to regulate ICOs”. The restructuring of the financial sector would potentially convert it into a “competitive location to attract ICOs and investments in the blockchain in 2019”.
These experts agree that the UAE needs a strategy focused on developing its own development communit. This is to create a sustainable blockchain sector in the future, says the report.
The ICOs have had a significant impact on the Fintech sector in recent years. This has intensified in the last two years. In the period 2017-2018, there were excellent collective financing events since the introduction of blockchain solutions. However, it is not exempt from certain disadvantages. Unfortunately, the OIC faced difficult times in the same years in which market declines became evident.
In general, UAE is making progress on several fronts related to the development of the blockchain in its region. This is reflected in recent projects such as the development of a cross-border cryptocurrency in association with Saudi Arabia.