BitOasis – the first and largest digital asset exchange in the Middle East and North Africa region – acknowledges the need for regulation in the young industry.
Commenting on recent announcements on digital asset trading in Saudi Arabia, Ola Doudin, CEO of BitOasis, said: “Digital assets and blockchain technology are a reality and are here to stay. They are the future of money. This fast growing industry is at its early stage and regulations are currently being discussed and developed in every part of the world, including this region.
“Regulations are absolutely fundamental. They are essential to grow and formalise the industry, while minimising risks on customers. This is why, as a pioneer in the industry, we are working closely with regulators in a number of our key markets across the GCC to develop and comply with the necessary regulatory framework.
“As a whole, our region is progressive and quick to adapt to new technologies that can create more efficient, competitive, and smarter economies. Regulatory frameworks will affirm digital assets’ status as a reality in today’s world.”