Dubai Announces Recognition of One More Altcoin After Bitcoin, Ethereum and XRP
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Today, the Dubai Financial Services Authority (DFSA) announced that ZetaChain (ZETA) has been officially recognized as a regulated cryptocurrency.
Tokens previously recognized by the DFSA include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Toncoin (TON), and XRP.
The DFSA said in a statement:
“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.”
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The announcement comes after ZetaChain’s successful $27 million funding round, backed by notable investors including Blockchain.com, Jane Street Capital, Human Capital, Vy Capital, and GSR.
With this funding, ZetaChain aims to advance the development of a layer-1 blockchain compatible with the Ethereum Virtual Machine (EVM). EVM is a runtime environment for executing smart contracts on Ethereum, providing compatibility with a wide range of blockchain-based applications.
ZetaChain's platform is designed to connect multiple blockchains, allowing users to seamlessly access assets and data across platforms, including non-smart contract chains like Bitcoin and Dogecoin.
*This is not investment advice.
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