UAE emirate to launch free zone for crypto companies.
Ras Al Khaimah, one of the seven emirates of the United Arab Emirates (UAE), has announced the creation of the first free economic zone called RAK Digital Assets Oasis, dedicated entirely to virtual assets and digital companies.
According to the statement, RAK Digital Assets Oasis will become a hub for unregulated activity in the industry. Applications will be accepted starting in the second quarter of 2023.
«We are building the free zone of the future for companies of the future. As the world’s first free zone solely dedicated to digital and virtual asset companies, we look forward to supporting the ambitions of entrepreneurs from around the world,» commented Al Qasimi, chairman of the RAK International Corporate Centre.