According to a lawyer involved in the development of the hub, la free zone in Ras Al Khaimahrecently announced for companies operating in the virtual assets sector, will consider accepting payments in cryptocurrencies from companies intending to set up their business in the emirate.
Irina Heaver, a cryptocurrency lawyer based in Dubai, told Cointelegraph that once the Digital Assets Oasis in Ras Al Khaimah (RAK DAO) will have identified the appropriate partners, will evaluate cryptocurrency payments, included (BTC) and other stablecoins, for business registrations, office rental and other services. “After all, Swiss cities and cantons have been doing this for years,” he noted.
Heaver further explained that the right technology and regulatory infrastructure is needed to make the system work, but clarified that “the groundwork has been laid.” Furthermore, the attorney stated that the RAK DAO intends to evaluate the possibility of managing Bitcoin nodes and lightning nodes to support cryptocurrency payments. He added:
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