Bittrex CEO praises UAE for creating conditions for crypto development

by in Cryptocurrency News

UAE

According to Steven Stonberg, CEO of the Bittrex cryptocurrency exchange, the United Arab Emirates has real opportunities to become a center for the development of blockchain technologies.

One of the largest cities in the Middle East, Dubai is already on the list of innovative regions.

If a business focused on the cryptosphere develops in this metropolis, then the UAE will receive not only large investments but also highly qualified specialists in digital assets. The CEO of the exchange expressed his point of view.

Trending: SEC chief thinks bitcoin threatens US financial sector

Stonberg stressed that his company expects to open a representative office in Dubai shortly and start serving local bitcoin traders. The Emirates have the status of a so-called tax haven, as do Switzerland and Bermuda. That is another factor that attracts entrepreneurs.

The UAE authorities have shown interest in the cryptocurrency industry over the past few years. The first terminal for digital currency transactions in Dubai was installed in March 2019.