The UAE is planning to double their GDP due to cryptocurrency and toxy

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The Minister of Digital Economy of the United Arab Emirates Abdalla Ben Tauk Al-Marry said that cryptocurrency and assets are key to the plans for doubling the gross domestic product.

Speaking on the Panel of the World Economic Forum, he spoke about the prospects for the use of digital assets for the development of the national economy and their regulation. According to Al-Marri, the UAE plan to increase the volume of GDP annually by 7% and by 2030 to achieve doubling compared to the current value to enter the top 35 countries of the world according to this indicator.

The key elements of achieving the goal should be the toochenization of assets and a developed digital economy. Currently, the UAE unfolds several projects in this direction. Among them, the Minister noted the development of a state platform for the financing of small and medium-sized businesses by means of tokens that can be exchanged at the regional level.

Last year, the UAE and Saudi Arabia already

Abdalla Ben Tahuk Al-Marry also said that the government upgrades regulatory mechanisms to protect investors and large financial organizations with innovation. At the same time, the authorities want to enable everyone to access the new type of assets and prevent the formation of a closed system.

According to the minister itself, for this, the government will have to do a lot of work and actually turn the national economic system to the experimentation site.

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