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digitalcurrencynews123 · 3 years

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digitalcurrencynews123 · 3 years

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UAE announces introduction of its first digital currency in 2026

The Central Bank of the United Arab Emirates has announced the introduction of the country's first digital currency in 2026.

Central banks in several countries around the world have recently announced the introduction of their own digital currencies and have criticized Bitcoin for such cryptocurrencies.

The UAE's central bank said in a statement on Monday that "in addition to introducing digital currency, it will also take steps to digitize the financial services sector in the country and use artificial intelligence and big data solutions in this regard." Will

According to UAE state media, the central bank's announcement is part of its 2023 to 2026 plan.

It should be noted that in 2019, Saudi Arabia and the United Arab Emirates announced the testing phase of their joint cryptocurrency for cross-border remittances.

The popularity of cryptocurrency bitcoins is currently on the rise around the world in the wake of the Cronavirus epidemic. Are looking for

China announced its participation in the cryptocurrency race in March. It introduced the "digital yuan" and began its trial phase.

The US, EU and UK central banks are also exploring the possibility of introducing their own digital currencies. If they also start trading in digital currencies, it will help stabilize the currency market.

Bitcoin was introduced in 2008 as an alternative to traditional currencies. It has now become the world's most popular cryptocurrency and virtual unit, but the value of bitcoin has recently risen following a crackdown on cryptocurrencies by China. I have decreased.

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