USE CASE
DEX APPROVED TO OPERATE AS CRYPTO EXCHANGE, CUSTODIAN BY ABU DHABI GLOBAL MARKET
D
EX has secured an in-principle approval from the Financial Services Regulatory Authority, as a regulated Digital Asset Exchange and Digital Asset Custodian based in the Abu Dhabi Global Market in Abu Dhabi, United Arab Emirates. DEX will provide a platform for both retail and institutional grade investors to invest through a fully regulated exchange into digital assets in a highly regulated financial eco system. DEX will operate as a regulated Digital Asset Exchange and Digital Asset Custodian under the Operating a Crypto Asset Business framework structured by the Financial Services Regulatory Authority that oversees all crypto asset and financial services activities in the Abu Dhabi Global Market. The exchange will act as a fiat to crypto exchange with major international currencies being served as well as local currency pairings native to the UAE and GCC markets. DEX represents a regulated crypto exchange in the UAE that will allow retail and institutional investors from the UAE, GCC and global markets to trade on a regulated exchange as a fiat to crypto centralised exchange. DEX will offer institutional investors, high net worth individuals and crypto funds with the ability to trade on a highly regulated exchange and to hold their crypto assets on their behalf as a regulated crypto asset custodian.
biznesstransform.com
LEON SMITH, Founder and CEO, DEX.
The compliance, market surveillance and measures taken to regulate the exposure of BTC to nefarious sources traded on the exchange will provide the highest level of regulation available in congruence with the regulatory framework employed by the Financial Services Regulatory Authority. Moreover, with corporate tax currently set at 0% in the UAE, the exchange will benefit from reduced taxation as well as potentially attracting institutional investors whose profits may benefit from the same tax regime. Leading financial jurisdictions such as the United States as regulated by the Securities Exchange Commission have provided guidance as to how digital assets in the form of coins, tokens or other digital assets may be treated. However, as no statutory laws have been enacted by the US Congress as federal law it has
23