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ZetaChain Joins Dubai's List of Regulated Cryptocurrencies

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3 hours ago

Today, the Dubai Financial Services Authority (DFSA) announced that ZetaChain (ZETA) has been officially recognized as a regulated cryptocurrency.

DFSA Recognition

ZetaChain (ZETA) has been officially recognized as a regulated cryptocurrency according to GEN Rule 3A.3.4 of the DFSA Rulebook. The DFSA highlighted that this recognition is effective immediately and will remain so until further notice.

Pursuant to GEN Rule 3A.3.4 of the DFSA Rulebook, the following Crypto Token has been recognized by the DFSA: ZetaChain (ZETA). The DFSA’s current list of Recognized Crypto Tokens can be found on the DFSA website. The recognition will be effective immediately and will remain valid until further notice.DFSA

Context and Support

The recognition of ZetaChain follows a successful $27 million funding round, backed by investors such as Blockchain.com, Jane Street Capital, Human Capital, Vy Capital, and GSR.

ZetaChain's Goals

With this funding, ZetaChain aims to develop a layer-1 blockchain compatible with the Ethereum Virtual Machine (EVM), enabling connection of multiple blockchains, including non-smart contract chains like Bitcoin and Dogecoin.

The recognition of ZetaChain as a regulated cryptocurrency by DFSA strengthens its market position and facilitates further development.

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