Bittrex Crypto Exchange eyes expansion in MENA

Bittrex Crypto Exchange, currently based in Liechtenstein and Bermuda is interested in expanding to Dubai UAE to cater to the MENA region. In a recent article in BNN Bloomberg, Global’s chief executive officer of Bittrex Stephen Stonberg stated that Dubai is well  positioned to become the hub for the growing cryptocurrency market in the Middle East.

This statement was made as Dubai and the UAE push towards more crypto asset regulations built on Blockchain technology. For example recently UAE Securities and Commodities Authority in collaboration with DMCC ( Dubai Multi Commodities Center) came out with onshore crypto assets regulatory framework. In addition the Dubai Airport Freezone and SCA also signed an agreement. Prior to that the UAE SCA had approved a crypto assets regulatory policy.

According to the Bittrex CEO, Stephen Stonberg, the UAE and Dubai has become a great place “set up your token project, or run a cryptocurrency exchange.”