UAE free zone to explore Bitcoin payments for services, lawyer says

Ras Al Khaimah’s recently announced free zone for virtual asset firms will explore accepting crypto payments from companies looking into setting up their businesses in the emirate, a lawyer involved in the hub’s development said.

Heaver further explained that suitable technology and regulatory infrastructure need to be in place for the system to work, but clarified that the “groundwork has been laid.” In addition, the lawyer also said that RAK DAO would explore operating full Bitcoin and lightning nodes to support the crypto payment initiative.

“I have to structure multiple entities in multiple jurisdictions. This adds to costs and time and is counterproductive for entrepreneurs. Now, I see a great opportunity for founders to base their businesses in one location.”

Thank you for sharing the news! RAK_DAO welcomes crypto startups with open arms! 🇦🇪🧡⚡

Crypto, not just bitcoin: 'Ras Al Khaimah’s recently announced free zone for virtual asset firms will explore accepting crypto payments from companies looking into setting up their businesses in the emirate, a lawyer involved in the hub’s development said.'

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Crypto creditscom BTC

Crypto creditscom BTC

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