Bitcoin Legislation & Legality to be Discussed by Dubai Authorities

In the coming days, the Supreme Legislation Committee (SLC) of Dubai will have bitcoin under its scanner. A discussion as to the present and future legislative policies and the legal frameworks surrounding bitcoin will be held during a workshop on November 20, 2016, as reported by regional publication Trade Arabia.
Titled ‘Virtual Currency: Fact and Law’, the workshop will see top officials from local and federal government entities in attendance. It could prove to be a notable event in the framing of bitcoin regulation in the Emirate of Dubai, as the workshop will also help spread awareness and knowledge of how virtual or cryptocurrencies work.
The mission of the SLC, which is tasked to develop and uphold an integrated legal system for Dubai, reads: ‘[To] provide favorable legal environment through up-to-date legislation and sound and effective legal opinions.’
To this end, SLC secretary general Ahmad bin Meshar Al Muhairi said of the workshop: ‘The move is part of our continuing efforts to build a legal knowledge base in line with our strategic objectives in strengthening the legal system and developing the legislative process to achieve the objective and realistic requirements for drafting leading legislation that simulates reality and outlooks the future.’

This post was published at Crypto Coins News on 17/11/2016.

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