Crypto On LYO: The Blend — Crypto Role In UAE Trade, Central African Republic Legal Framework, Crypto Becomes Second Most Widely-Owned Asset Class for Women

What happened in the crypto world in the last week? Let’s see some interesting news together!

Crypto To Play ‘Major Role’ In UAE Trade: Foreign Trade Minister

Crypto will play a “major role” in the United Arab Emirates’ global trade moving forward, says the UAE’s minister of state for foreign trade Thani Al-Zeyoudi.

Speaking with Bloomberg on 20 January in Davos Switzerland — where world leaders are currently gathered for the 2023 World Economic Forum — Al-Zeyoudi provided a host of updates regarding the UAE’s trade partnerships and policies heading into 2023.

Commenting on the crypto sector, the minister stated that “crypto will play a major role for UAE trade going forward,” as he outlined that “the most important thing is that we ensure global governance when it comes to cryptocurrencies and crypto companies.”

Al-Zeyoudi went on to suggest that as the UAE works on its crypto regulatory regime, the focus will be on making the Gulf country a hub with crypto-friendly policies that also have sufficient protections in place.

Central African Republic Eyes Legal Framework for Crypto Adoption

Central African Republic (CAR), a developing country in Central Africa, set up a 15-member committee responsible for drafting a bill on the use of cryptocurrencies and tokenization in the region.

According to Faustin-Archange Touadéra, the president of CAR, cryptocurrencies can potentially help eradicate the country’s financial barriers. He believed in creating a business-friendly environment supported by a legal framework for cryptocurrency usage.

Through collaboration, the members are tasked with working on a legal framework that will allow cryptocurrencies to operate in the Central African Republic and expedite the development of the national economy.

Crypto Becomes Second Most Widely-Owned Asset Class for Women: eToro Survey

Cryptocurrencies have driven up in the ranks of financial assets held by women, an eToro survey shows, with a jump in ownership in 2022 taking place.

Crypto has become the second most widely owned asset class for women, running just behind cash, the trading platform said this week in its Retail Investor Beat survey. In the fourth quarter, 34% of women owned crypto, up from 29% in the third quarter. The increase in the pace of ownership was faster than that of men, as their rate edged up to 43% from 42%.

Crypto appears to be “succeeding where traditional financial markets have sometimes failed in bringing more women to the table,” Ben Laidler, global market strategist at eToro, said in the report.

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