On November 2, the Dubai Financial Services Authority (DFSA) added XRP (XRP) to its list of recognized tokens. These cryptocurrencies belong to the digital asset class known as cryptocurrencies. In addition to Bitcoin (BTC), Ether (ETH), and Litecoin (LTC), the Dubai International Financial Centre (DIFC) now recognizes these cryptocurrencies as legal tender.Because of the tokens&#39; newly acquired status, financial institutions located within the DIFC will be able to engage in transactions involving them. Within the boundaries of the special economic zone are settled more than 4,000 different businesses. In the year 2020, the DIFC becomes home to Ripple&#39;s Middle East and North Africa headquarters.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/163441ed75e047b1819c779ef73a2605.png" />This follows on the heels of the Abu Dhabi Global Market&#39;s adoption of Distributed Ledger Technology (DLT) Foundations Regulations, which went into force on November 1.The Dubai Virtual Asset Regulatory control was founded in March 2022 and given control over the whole emirate of Dubai as well as its free trade zones, with the exception of the DIFC. This authority was based in Dubai proper. During this same time period, the emirate also passed a law pertaining to virtual assets.#XRP

Dubai's Free Trade Zone, the International Financial Centre, Has Given XRP the Green Light

dailyabay

Other articles published on Nov 3, 2023

XRP Eyes Potential Price Rally Amid Ripple Event, Similar to Solana (SOL) and Cardano

Ripple And National Bank Of Georgia Join Forces For Digital Lari Pilot

Can Dogecoin Rally 135%? Here’s What Needs To Happen

Soft US Jobs Report Fails to Dampen Bitcoin (BTC) Enthusiasm

PayPal v. SEC: Pro-XRP Lawyer and SEC Veteran Argue Over PayPal (PYUSD) Stablecoin's Future

Abu Dhabi launches first global digital ledger technology regulations

Join our free newsletter for daily crypto updates!