Best Bitcoin Card for United Arab Emirates
In the Arab world not only many investors are enthusiastic about Bitcoins and other Coins. The states are also increasingly aware of the opportunities offered by the market. The Arab Emirates want to set the legal course in 2019.
UAE government wants to attract blockchain companies
It is well known that oil-producing countries are gradually having to look for alternative sources of income. The end of reserves is foreseeable, so that new ways must be sought at an early stage to secure the flow of money from home and abroad. While Dubai focuses primarily on tourism, the United Arab Emirates has long been seeking its salvation in the technology sector – local investors have been showing great interest in crypto currencies from Bitcoin to Zcash since the beginning of the boom in the region. The Emirates would like to secure a large slice of the pie and ensure that companies with blockchain developments and other services in connection with the crypto market will increasingly settle in the country through a number of legislative changes in the coming year.
Suitable rules and regulations for trading centres and ICOs
The new legislation was announced at the beginning of the week. One sub-area will be clear legal provisions for the introduction of new tokens within the framework of the Initial Coin Offerings (ICO). In addition, the government wants to create provisions to regulate trading venues and exchanges for trading ethereum, stellar and all the other currencies. Several experts in recent months have indicated that the United Arab Emirates is an important location for the future.
Will Europe soon lose touch?
For the simple reason that the state is much more open than many other countries when it comes to recognising the market and new digital currencies. Trade media are also reporting on collaborations between different countries in the region these days, punctually at the turn of the year. Once again, the European Community in particular should attach importance to not missing out on the international crypto elite. Malta, for example, is still regarded as a promising country for Europe’s crypto companies due to its legal openness to innovations and new technologies.
About the United Arab Emirates
The United Arab Emirates (UAE), are a federation of seven emirates in the southeast of the Arabian Peninsula in southwest Asia. They are the only federation in the Arab world. Six of the seven emirates are located in the northeast of the country, only Abu Dhabi has a larger hinterland with desert and isolated oases. There are lush green areas in the cities. In the past the prosperity of the Emirates was based on the pearl trade, nowadays on the export of gas and oil. The UAE has the seventh largest oil deposit in the world and is one of the most developed economies in the Middle East. As an end to oil and gas reserves is in sight, the service sector is being expanded.
The climate is subtropical to tropical with very low annual precipitation, mostly in winter; often rain evaporates before it reaches the ground. It is extremely humid from May to October. Especially in winter and early summer, the Shamal (“The Northern”), a north-westerly wind that brings a lot of sand and dust, blows. Sometimes sandstorms blow from Iraq to the UAE. In late summer, a humid southeasterly wind called Sharqi (“The Eastern”) provides an unpleasant climate, especially in the coastal region. Dry desert climate prevails in the interior. In the Hajar Mountains it is noticeably cooler due to the altitude. On the Jebel Jais, a mountain massif near Ra’s al-Chaima, it has snowed twice since the beginning of weather records.