2016/11/10 8:17 PM

ABU DHABI, United Arab Emirates — The Bitcoin Conference Abu Dhabi organizers hope to make the UAE a center for fintech, Bitcoin and blockchain innovation in the Middle East with its upcoming conference in Abu Dhabi on December 8, 2016.

Also read: Bitcoin Price Watch: President Trump Starts Field Day for Traders

In a press release, conference organizers noted that government agencies and businesses have expressed early interest in fintech, with over 30 firms and organizations starting work on fintech proof-of-concepts in 2016.

Furthermore, financial authority Abu Dhabi Global Market released a consultation paper in 2016 outlining plans to “create a sandbox environment for fintech under which startups would be allowed to work under a flexible regulatory framework for up to two years,” the press release stated.

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