Currency Economy

UAE authority issues warning about Dubai Coin

Cryptocurrency30 minutes ago (May 28, 2021 06:40AM ET)UAE authority issues warning about Dubai Coin

UAE authority issues warning about Dubai Coin

As a tech-friendly region, Dubai is never short of new and promising projects, including crypto and blockchain, but the influx of new cryptocurrencies makes it harder for newcomers to distinguish shady campaigns from reliable ones.

The Dubai Media Office announced that the authorities have never approved a digital currency named Dubai Coin, which saw a 1,000% jump when the project launched as “the official digital currency of Dubai” earlier this week.

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