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Helal Saeed Almarri, Director General of DWTCA, said: “Innovation is a byword for Dubai and this ‘Future-Economy’ environment is designed to catalyse collaboration, stimulate innovation and most importantly assure tection.

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 In line with Dubai’s vision for a fully digital and inclusive society, this world’s first specialist authority is Dubai’s active response to the industry’s call for support – so that service viders, technology enablers, and governments can co-create the next generation ecosystem for the global Virtual Asset Economy.”

“DWTCA’s agreement with Coinbase to be one of the anchors in this new ecosystem is a pioneering move that aims to strike a balance between value creation and risk mitigation, prioritising equal investment enhancement opportunities for society while tecting the most financially vulnerable as priority.”

Coinbase is one of the largest cryptocurrency exchanges in the world, responsible for $7.7 trillion crypto exchange volume in 2021, while the daily trading volume is around $80 billion, and the number of users is estimated at 28 million.