Saudi Arabia Takes Affirmative Action for Crypto Adoption

  • The Kingdom of Saudi Arabia appointed its first cryptocurrency chief. 
  • Mohsen AlZahrani will lead the nation to its crypto goals.
  • Saudi Arabia will likely be a major competitor to crypto wall street — Dubai.

The Kingdom of Saudi Arabia has taken a huge step to making crypto adoption a more serious priority. In detail, Saudi Arabia’s central bank has just appointed a cryptocurrency chief. The nation’s goal is to advance its digital goals. 

In particular, Saudi Arabia appointed Mohsen AlZahrani to lead both its virtual assets as well as its central bank digital currency program. It is doing so to have the country pursue its crypto ambitions. 

So far, the kingdom had taken a more cautious role towards all things crypto. Now with the united front for crypto from other Middle Easterns countries, it seems Saudi Arabia is also stepping up to the plate. 

With greater adoption among the MENA region, Saudi Arabia has also come into action. They will begin by making a framework for crypto players to take part more confidently and securely. More regulation leads to more certainty for crypto users. 

The cities of Abu Dhabi and Dubai from the UAE have taken a very bullish approach to innovation with respect to blockchain and cryptocurrencies. Now, Saudi Arabia is also heading towards a more bullish approach. 

However, it will first start with developing a crypto policy for its people. According to a discussion on Bloomberg, this is a very good thing for crypto users everywhere. After all, this only boosts interest for the crypto industry. 

In addition, seeing any form of interest in regulators should be treated as inevitable. At the end of the day, crypto is here to stay, and they can only do so without friction if regulators are behind the technology. 

disclaimer read more

Crypto News Land ( , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.