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Dubai Launches Financial Reform Plan, Includes Virtual Assets as One of Three Pillars
Summary: According to reports from Caixin, Dubai has recently launched a comprehensive financial reform plan aimed at propelling it into the ranks of the world's top three financial centers. The Dubai Government Media Office stated that under the new 'Dubai Financial Industry Strategy' framework, virtual assets, capital markets, and financial technology will be key pillars for ...
According to reports from Caixin, Dubai has recently launched a comprehensive financial reform plan aimed at propelling it into the ranks of the world's top three financial centers.
The Dubai Government Media Office stated that under the new 'Dubai Financial Industry Strategy' framework, virtual assets, capital markets, and financial technology will be key pillars for future economic growth in Dubai. Dubai plans to leverage this financial reform plan to accelerate the development of its already leading digital asset infrastructure and facilitate the transition from traditional finance to digital financial services. The virtual asset industry was established three years ago based on the UAE Virtual Asset Law and currently contributes approximately 0.5% to its GDP, around 22 billion dirhams (approximately 6 billion USD). With the gradual expansion of the virtual asset ecosystem, Dubai aims to increase this contribution to around 3%, or 130 billion dirhams (approximately 35 billion USD).
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Link: Dubai Launches Financial Reform Plan, Includes Virtual Assets as One of Three Pillars [Copy]
