Dubai Chamber forms working group with focus on digital assets

The group will provide a platform for digital asset companies to “unify their voices, address market challenges, and align their ambitions”

The Dubai Chamber of Commerce and Industry has created a working group that will focus on digital assets.

The Dubai Digital Assets Business Group (D2A2) will promote the digital asset industry, boost transparency and market intelligence data, and support the growth of digital assets companies in the emirates, the government body said in a statement.

“The D2A2 will be an important reference providing strategic and up-to-date market research data related to the digital asset sector to industry stakeholders, the private sector, policymakers and government entities,” Oman Sultan Al Olama, the UAE minister for artificial intelligence, digital economy, and remote work applications, said.

He said the group will provide a platform for digital asset companies to “unify their voices, address market challenges, and align their ambitions.”

“We see an opportunity to turn Dubai and the UAE into a regional hub for digital assets. That is why it is very important to work towards creating a bridge for the digital asset industry to further integrate into the world economy by cooperating with counterpart organizations across the world,” D2A2 chair Gaurang Desai said.

The UAE has recently been demonstrating its keenness to embrace the digital economy, particularly the digital assets space.

Earlier this year, Dubai has created the Virtual Assets Regulatory Authority which is tasked to oversee governance within the sector. It is responsible for licensing digital assets companies to operate in the emirate.

Source: Arabian Business