The crypto currency exchange Bitex launched in the United Arab Emirates

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Digital asset exchange Bitex officially launched in the United Arab Emirates (UAE). New cryptopleura will support Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC).

The Bitex team also released a new crypto that provides the service of keeping cash deposits. Mokar modi, managing Director of Bitex”s UAE, said that the exchange will be offered many different payment options, among which is Bank wires, credit or debit card. Service cash Deposit Bitex enables users to directly transfer funds to your exchange account for full-access.

In conclusion, he noted that the opening of a new crypto currency exchange has become possible due to progressive regulatory laws of the country. In June, the regulator of the UAE in the field of Finance has released a full set of guidelines for local firms in the cryptocurrency sector.

Under the new regulatory framework, identified potential risks associated with cryptocurrency transactions, including their use to Finance criminal activities such as drug trafficking and terrorism.

Create a database for digital assets to Persian Gulf countries

One of the main goals of the nationwide initiative is to establish “a more accessible database for digital assets not only in the UAE but also other Gulf States.

UAE are among the few countries in the Middle East, which was receptive to the latest advances in financial technology. As reported CryptoGlobe, in August, the financial firm ADAB Solutions, registered in the UAE, launched the world’s first Islamic kryptogamen (FICE). All trading operations on the exchange FICE conform to the Sharia, in other words, the business relationship of the exchange correspond to the teachings of Islam.

As reported recently, the Central Bank of the UAE will work with regulators in Saudi Arabia and financial market professionals to launch a state-backed digital currency. The joint initiative will include the development of a national cryptocurrency Saudi Arabia for cross-border payments between banks, is already in the development phase.

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Tags: Bitex

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