{"id":332292,"date":"2021-08-30T15:37:57","date_gmt":"2021-08-30T12:37:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dubai-to-benefit-from-expanding-crypto-market-bittrex-global-ceo-says\/"},"modified":"2021-08-30T15:37:57","modified_gmt":"2021-08-30T12:37:57","slug":"dubai-to-benefit-from-expanding-crypto-market-bittrex-global-ceo-says","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dubai-to-benefit-from-expanding-crypto-market-bittrex-global-ceo-says\/","title":{"rendered":"# Dubai to benefit from expanding crypto market, Bittrex Global CEO says"},"content":{"rendered":"<p>&#8220;<strong># Dubai to benefit from expanding crypto market, Bittrex Global CEO says <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvMDhlMGVmN2QtZGZkZi00Y2U4LWJiOTAtMjMyNGY4MWY2NWYyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>The United Arab Emirates (UAE) and Dubai are among the friendliest jurisdictions for the cryptocurrency industry, according to\u00a0Stephen Stonberg, CEO of Bittrex Global crypto exchange.<\/p>\n<p>Dubai is likely to benefit from the expanding crypto market in the Middle East as local regulators increasingly accept blockchain-related technologies, Stonberg <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-29\/dubai-poised-to-benefit-from-cryptocurrency-growth-bittrex-says\">said<\/a> in a Sunday Bloomberg interview.<\/p>\n<p>The UAE and Dubai are \u201cdoing all the right things and they\u2019re going to attract a lot of regional projects\u201d in the cryptocurrency industry, Stonberg said. He stated that these jurisdictions provide a \u201cgreat place\u201d to set up a token project or run a cryptocurrency exchange, largely thanks to the region\u2019s status as a tax haven.<\/p>\n<p>According to data from the Tax Justice Network, the UAE <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.aljazeera.com\/economy\/2021\/3\/9\/uae-is-among-the-worlds-fastest-growing-tax-havens-study-finds\">became<\/a> one of the world\u2019s largest fastest-growing tax havens in March 2021 alongside Switzerland and Bermuda.<\/p>\n<p>\u201cI think Dubai is going to do fantastically well,\u201d Stonberg said, adding that Bittrex now expects further expansion and more clients in the region. Bittrex Global is a global crypto trading platform for the Bittrex exchange, one of the largest crypto exchanges in the United States.\u00a0<\/p>\n<p>The global exchange was officially launched in September 2019 and is headquartered in Liechtenstein. Last year, Bittrex Global <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.businesswire.com\/news\/home\/20200930005717\/en\/Bittrex-Global-to-Operate-Cryptocurrency-Exchange-From-Bermuda\">received<\/a> a digital asset license to operate its crypto exchange under the supervision of the Bermuda Monetary Authority.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Crypto is no longer in the early adoption stage, Bittrex Global CEO says<\/em><\/strong><\/p>\n<p>The UAE has been cementing its presence in the digital asset industry recently, with Minister of Economy Abdulla Bin Touq Al Marri declaring in April that cryptocurrencies and asset tokenization will be key to the country\u2019s plans to double its economy in 10 years. In July, the UAE joined the global central bank digital currency (CBDC) race.<\/p>\n<p>The Dubai Financial Services Authority, the financial regulatory agency for the Dubai International Financial Centre, also initiated several crypto-related regulations this year, intending to adopt a \u200b\u200bregulatory framework for diverse digital assets in 2021.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/dubai-to-benefit-from-expanding-crypto-market-bittrex-global-ceo-says\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Dubai to benefit from expanding crypto market, Bittrex Global CEO says &#8221; The United Arab Emirates (UAE) and Dubai are among the friendliest jurisdictions for the cryptocurrency industry, according to\u00a0Stephen Stonberg, CEO of Bittrex Global crypto exchange. Dubai is likely to benefit from the expanding crypto market in the Middle East as local regulators&#8230;<\/p>\n","protected":false},"author":1,"featured_media":332293,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvMDhlMGVmN2QtZGZkZi00Y2U4LWJiOTAtMjMyNGY4MWY2NWYyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,88155,74863,77146,74355,71644,25460,70934,46483],"class_list":["post-332292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bittrex","tag-cryptocurrencies","tag-uae","tag-adoption","tag-dubai","tag-middle-east","tag-regulation","tag-taxes"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/332292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=332292"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/332292\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/332293"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=332292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=332292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=332292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}