The United Arab Emirates Officials will meet at the Investopia Summit on March 28 in Dubai to deliberate on the blockchain sector, including the payment of salaries in crypto.
The official says that salaries are currently being paid in crypto in most jurisdictions and that the UAE is considering following suit with stablecoins.
The summit is expected to bring together regulators, entrepreneurs, and investors to discuss a range of topics that are expected to shape the global economy.
The country’s Minister of Economy, Abdulla Bin Touq Al Marri, says that the role of banks in crypto will be brought up in the summit that will also highlight the metaverse progress.
The news coincides with a new law by the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, that offers a framework for businesses to deal in virtual assets.
UAE remains upbeat about the sector’s potential, with the number of cryptocurrency businesses in Dubai projected to reach a thousand by the end of the year.