MEAACBA is a non-profit organization whose goal is to support, enable, and grow blockchain and crypto ecosystems in the Middle East and other core regions. MEAACBA was officially launched on November 8 in Abu Dhabi. Many people see the launch of MEAACBA as a turning point in the development of crypto-blockchain environments that are user-friendly, open, and follow the rules.
Objectives Of the New Crypto and Blockchain Association- MEAACBA
- Getting people to understand blockchain and cryptocurrencies.
- Making it easier for regulators to interact and align, so that practical standards can be made.
- Coordination and collaboration between banks, compliance advisors, law firms, and tax, audit, and technology firms.
- Helping to stop financial crimes and other crimes by working with law enforcement and other government agencies.
MEAACBA Launch and Impact on the Crypto and Blockchain Ecosystem
The MEAACBA’s Board of Directors is made up of significant individuals from the Crypto and Blockchain communities around the world. The association’s board chairman is Jehanzeb Awan, who founded an international risk and compliance consulting firm in Dubai. Awan said that the association has the knowledge, credibility, and power to make a big difference in this fascinating and quickly changing field. He went on to say that the MEAACBA’s goal is to teach people all over the world and help all businesses reach their full potential. All of this information will be shared by experts in the field through webinars, courses, and events.
The launch of MEAACBA preceded ADGM’s 2022 Abu Dhabi Finance Week, which showcases the UAE’s role in backing and supporting Fintech firms/companies. The Abu Dhabi Global Market supports the Middle East, Africa, and Asia Crypto & Blockchain Association (ADGM). ADGM is the international financial center for the Emirate. Ahmed Al Zaabi, the chairman of the ADGM, says that the UAE is trying to take advantage of what Blockchain Technology and cryptocurrency have to offer. There are also experts from Binance, Crypto.com, BitOasis, MidChains, Rain Financial, and other companies who support MEAACBA.
The launch of MEAACBA coincides with the Financial Services Regulatory Authority’s (FSRA) publication of “Guiding Principles.” It adopted these guiding principles in September to help it deal with the complicated regulations that the digital asset industry has brought about. Some of the international standards for combating money laundering and funding terrorism set by the United Nations are met by the principles.
Who can join MEAACBA?
MEAACBA is open to companies and people from the Middle East, Africa, and Asia who work in the blockchain and cryptocurrency ecosystem. NFT companies, tech developers, consulting firms, digital asset traders, and exchanges are all examples of groups that can join. It’s also important to know that the MEAACBA Board approves appointments to the Advisory Board with a unanimous vote.
The main goal of the newly formed group is to make standards for the blockchain technology ecosystem. By doing this, they hope to stick to industry standards and make things more open. There’s no doubt that these projects will help the blockchain and cryptocurrency industries grow.