Leon Smith, founder and chief executive officer of the Digital Assets Exchange (DEX), said he has already received preliminary approval from the Abu Dhabi Global Financial Services Regulatory Authority to launch the exchange as part of the Digital Assets Regulatory Platform, which was developed by the Financial Services Regulatory Authority during the year. Last year, the exchange was likely to start operations in the second half of this year, becoming the first crypto asset exchange to operate in the region. He expected in a press conference in Dubai yesterday, to provide full operational trading services before the end of 2019, to customers in the UAE and the Gulf and the world. He said that the Abu Dhabi Global Market initiative to establish a general framework to regulate the trading of encrypted assets, is of great importance in light of the weakness in this aspect globally, highlighting the opportunities for the UAE to grow and develop at this level. The global crypto-asset market is estimated to be around $ 250 billion, he said trading on the platform will be limited to currencies approved by the Abu Dhabi Financial Market Regulatory Authority’s four Bitcoins, which he said are still the most popular and high-demand cryptocurrency, Bitcoin Cash and Ethereum.
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