Dubai has issued License to a Crypto Currency Firm

Finally.. it is happening in Dubai

Dubai has accepted Cryptocurrencies and has issued first license to a CryptoCurrency Firm registered there.

the first license has gone to Regal Assets, a gold trader and storage provider.

The company added Cryptocurrencies to its product line last year ans is also offering brokerage services and cold storage service for various crypto currencies like bitcoin, ether, BCC, ETC , Ripple and Dash.

According to Bloomberg, “Dubai gold trader Regal RA DMCC is the first company in the Middle East to get a license to trade cryptocurrencies.”

DMCC Executive Chairman Ahmed Bin Sulayem was quoted by the publication, “At the heart of DMCC’s long-term strategic growth plan is the use of technology and innovation to disrupt and connect new markets, industries and customers,” adding that “the announcement today embodies this approach.”

After this news, it seems that many more Crypto currency companies will start moving to the free economic zone. With government's all over the world creating regulations, banning or creating issues for these companies to operate, DMCC has shown a way for these companies to be able to work in safe and legalized environment.

Hope other countries take a cue from Dubai and move in this direction.