Did Dubai Launch Its Own Crypto Dubicoin(DBIX)? Or Is It A Fake News?

DubaiCoin, the city's own cryptocurrency, has been launched (DBIX), according to some reports. DubaiCoin is a popular topic right now.

Although the Dubaicoin is not exactly a CBDC, it is the closest thing we have to China's official digital Yuan, which is now being tested in the country. Countries such as the United States, India, the United Kingdom, and the European Union are considering digital equivalents of fiat currencies.

Did Dubai Really Launch Its Own Crypto Dubicoin(DBIX)?

The Dubai Electronic Security Centre said late Thursday night that the digital currency known as the "Dubai Coin" has not been sanctioned by any official body and that the website promoting the coin is an unlicensed site aimed at phishing people's e-mail addresses, passwords, and phone numbers through an electronic form.

'Dubai Coin cryptocurrency was never sanctioned by any official authority,' Dubai Media Office tweeted from its handle @DXBMediaOffice. The coin's promotional website is a sophisticated phishing scheme aimed to collect personal information from its users.'
According to reports, Dubai established its own cryptocurrency called Dubai Coin in order to be at the forefront of smart technologies (DBIX).

According to reports, the coin's initial price was $0.17 per coin, and it had risen 400 percent in a matter of days. Fake once more. There is one exchange that hosts the unconfirmed Coin, but it has been labelled a scam by tech vloggers.

The United Arab Emirates is regarded for being a safe haven for cryptocurrency investors. In reality, the India-based COVID-19 relief organization, India Covid Relief Fund, has established a subsidiary in Dubai to convert crypto donations into fiat currency. The Dubaicoin, on the other hand, would be distinct from other cryptocurrencies, according to reports.