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PwC Middle East proposes a three-stage promotion model for digital asset regulation in the UAE



Time:8/14/2022 12:24:36 PM

[PwC Middle East proposes a three-stage promotion model for digital asset regulation in the UAE] On August 14th, PricewaterhouseCoopers (PwC) Middle East Division recently released a report "UAE Virtual Asset Market" on how the United Arab Emirates has become a growth One of the fastest digital asset marketplaces offers its insights.

The report proposes a three-stage promotion model that digital asset regulators in the UAE can follow, including formulating a clear and comprehensive regulatory regime, promoting industry self-regulation, and cooperating with international partners in the industry to ensure continued transparency and compliance for the long-term growth of the market sex.

According to PwC, digital asset trading volume in the UAE is around $25 billion, up 500% between July 2020 and 2021, making it the third largest market in the Middle East after Turkey ($132 billion) and Lebanon ($26 billion). (CoinGeek)

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But while small and midsize businesses (SMBs) are faster and more nimble in adopting new technologies and products, enterprises are slow to adopt them. Sales cycles are long, there are more entry points, and there is still a strong incentive for multiple internal stakeholders to maintain the status quo. (Cointelegraph)[2022/3/7 13:41:22]

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