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Abu Dhabi launched new blockchain and virtual assets strategy

The Abu Dhabi Blockchain and Virtual Assets Committee (ADBVAC) met for the first time to discuss a blockchain and virtual assets strategy that is aligned with the Emirates' economic strategy.

The committee, chaired by Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED) and Chairman of the Securities and Commodities Authority (SCA), aims to improve Abu Dhabi's competitiveness in blockchain and virtual asset markets in order to keep up with global markets. Building a safe, transparent, and sound ecosystem while adhering to the Anti-Money Laundering/Combating the Financing of Terrorism (AML/CT) International and local rules and regulations will help build trust and attract companies to the capital.

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