Abu Dhabi’s MEAACBA Is Established To Control Cryptocurrency

Africa, The Middle East, and Asia CBA (Crypto & Blockchain Association) organization has been established by Abu Dhabi (MEAACBA).

The non-profit is designed to bring together professionals in the sector to talk about the biggest issues the crypto business has for the area and to determine the best ways to incorporate crypto into daily life.

MEAACBA will work to improve crypto environment

In addition to Bit Oasis, a digital asset exchange located in Dubai, Mid Chains, a trading system, Crypto.com, Rain Financial in Bahrain, and Binance, are among the financial firms that have already entered the MEAABA.

In a recent address, MEAACBA Chair Ahmed Al Zaabi stated that the UAE is on track to be one of the greatest global financial hubs and that they aim to be regarded as significant contributors to the diversification and long-term growth of the economy of the UAE.

They are confident that MEAACBA will consistently support the development and use of digital technology in the UAE… and will have an influence on the region and the world.

Many business leaders believe Abu Dhabi to be well-positioned for the adoption of cryptocurrencies.

If you look at the United States and UK markets, they don’t have the same legislative framework and purpose from the regulator to create an industry from the bottom up, as the UAE has done, according to Stuart Isted.

As one of the countries to implement the necessary regulatory strategies for the expanding industry, the UAE has solidified its place in the crypto market.

Jehanzeb Awan’s speech

Recently, Dubai announced that it was putting new crypto-based legislation into motion to guarantee that all traders were safe and secure while conducting transactions and that criminals had less possibilities to use blockchain.

Like other cryptocurrency enthusiasts, Abu Dhabi has been impacted by the current crypto winter. There have been some really great years, but there have also been some frigid and dreary winters, according to Jehanzeb Awan, the chair of the new organization.

Principles, not seasons, form the foundation of businesses. Therefore, it will take a lot of work to bring all the actors in the sector together.