BITCOIN on the radar of UAE Government and UAE Central Bank

Certainly, bitcoin and blockchain appear to be on the radar of the UAE Government and the UAE Central Bank. The UAE Central Bank and Dubai Supreme Legislative Committee are considering the legal status of bitcoin and may issue regulations in which bitcoin is clearly treated as a form of currency and permitted to be used as such in the UAE. The Dubai Financial Services Authority (DFSA) is gathering these days to discuss the regulations of the cryptocurrency within the DIFC. However, the authorities in the UAE are not reaching consensus on their views of this subject which is leading to some confusion.

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