Bittrex Global CEO Declares Dubai Will Gain Benefit From Cryptocurrency Market Expansion

The UAE (United Arab Emirates) is moving to secure its presence within the digital asset sector. They have also applied various efforts to promote the adoption of blockchain-based technologies. According to Bittrex Global cryptocurrency exchange CEO Stephen Stonberg, Dubai and the United Arab Emirates are among the very friendly jurisdictions to the crypto industry. Dubai Benefits From Local regulation In an interview on Sunday, Bloomberg said that the crypto market expansion into the Middle East is more likely to favor Dubai since the local regulators are continually accepting blockchain-related technologies. Dubai and the United Arab Emirates are doing the proper things and drawing in various regional projects within the crypto industry, says Stenberg. According to his speech, the jurisdictions offer the perfect location to set up token projects or operate a crypto exchange due to the tax haven provided by the region status. Related Reading | Former DigitalX Executive Appointed As The New Binance Australia CEO As stated by the Tax Justice Network data, in March 2021, the United Arab Emirates became the number one world’s biggest fast-growing tax havens together with Bermuda and Switzerland. Stenberg declares, “in my opinion, Dubai is will benefit greatly.” He added that Bittrex is now showing signs for more expansion and getting extra customers within the region. Bittrex Global is a worldwide cryptocur...