The United Arab Emirates (UAE) is looking to adopt cryptocurrency in a ‘major role’ in its trading policies, according to a report by Bloomberg.
Speaking with Bloomberg Television in Davos, Switzerland – where the World Economic Forum is currently being held – UAE’s minister of state for foreign trade, Thani Al-Zeyoudi, made some positive statements on the potential role of cryptocurrency in the economy of the gulf nation.
“Crypto will play a major role for UAE trade going forward,” said Al-Zeyoudi. For years now, the UAE government has been working on transforming the nation into a global crypto hub, mainly by implementing crypto-friendly policies with the goal of attracting the big guns in the $ 1 trillion industry.