According to the official WAM news agency, the Dubai World Trade Centre (DWTC) would become a comprehensive zone and regulator for virtual assets and crypto, comprising digital assets, products, operators, and exchanges. The Dubai World Trade Centre will provide a full environment for this forward-thinking industry in the city. The Dubai World Trade Centre will collaborate with the private sector and relevant entities in Dubai to create an attractive environment for the sector, and enforce rigorous standards for investor protection, Anti Money Laundering (AML), Combating the Financing of Terrorism (CFT) compliance and cross border deal flow tracing. The announcement that comes within the efforts to further develop Dubai virtual assets and markets, includes creating a framework for innovative financial products, adopting new trends that rely on advanced underlying blockchain technology, such as non-fungible token (NFT) and cryptocurrencies. The World Trade Center will deliver and oversee a new world-class regulatory framework of Virtual Asset legislative and enforcement policies, which will be critical to facilitating and broadening cross-border operations and ecosystem innovation to enable safe market adoption and growth for this sector in Dubai, according to a statement released by the Dubai Media Office.