UAE Tops 2024 List of World’s 5 Most Crypto-Friendly Countries
As cryptocurrency continues to reshape digital assets and investments, nations worldwide are racing to position themselves to capitalize on the growth of this transformative industry. Therefore, some countries have created robust regulatory frameworks and tax policies to foster innovation and attract crypto-based startups. Social Capital Markets’ latest report shines a spotlight on the top crypto-friendly […]
First AED Stablecoin Backed by Al Maryah Community Bank Receives Initial Approval from CBUAE
AED Stablecoin LLC has announced that it has received in-principal approval from the Central Bank of the UAE to launch its own currency, AE Coin, which reflects the government’s innovative vision and commitment to the UAE Digital Government Strategy 2025. Backed by Al Maryah Community Bank, this approval aligns with the “Payment Token Services Regulation” […]
OKX Secures Derivatives VASP License from VARA
In a significant achievement for OKX, the global cryptocurrency exchange has secured its full Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This announcement was made by OKX Middle East General Manager Rifad Mahasneh during the company’s gala event at the Museum of the Future, titled “A New Alternative for […]
VARA Cracks Down on Seven Unlicensed Firms to Safeguard Dubai’s Virtual Asset Ecosystem
The Virtual Assets Regulatory Authority (VARA) is continuing its enforcement actions to protect Dubai’s virtual asset ecosystem by targeting unlicensed firms operating within its jurisdiction. As part of a broader enforcement initiative, VARA has issued cease-and-desist orders and fines to seven entities for operating without the required licenses and violating marketing regulations. Additional investigations are […]
Binance Partners with TOKEN2049 to Elevate Blockchain Innovation in UAE
Binance, the world’s largest cryptocurrency exchange by trading volume and users, has announced a strategic partnership with TOKEN2049, a leading global events platform for digital asset professionals and enthusiasts. TOKEN2049 is renowned for hosting premier events centered around cryptocurrency, blockchain, and decentralized technologies in both Dubai and Singapore, where industry founders and executives share their […]
MultiBank Receives a VASP License from Vara
MultiBank Group, a leading financial traditional derivatives institution based in Dubai, has officially launched its UAE operations through its subsidiary MEX Digital FZE. The subsidiary has secured a Virtual Assets Regulatory Authority (VARA) license under the MultiBank.io brand. MultiBank.io is the regulated cryptocurrency exchange under MultiBank Group, offering a user-friendly platform for instant, secure trading […]
National Bank of Bahrain (NBB) Launches GCC’s First Bitcoin-Linked Structured Investment
The National Bank of Bahrain (NBB) has unveiled the GCC’s first Bitcoin-linked Structured Investment, in partnership with ARP Digital. The announcement was made during a special ceremony at Fintech Forward 2024, marking a significant milestone for Bahrain’s financial sector and the wider region. This innovative investment product is tailored exclusively for accredited investors, allowing them […]
RAK DAO Celebrates One-Year Milestone with 2024 Conference on Blockchain and Web3 Innovation
RAK Digital Assets Oasis (RAK DAO), the world’s first and only Free Zone with Common Law features dedicated to digital assets firms, is marking its one-year anniversary by hosting the RAK DAO 2024 Conference on October 25, 2024, at the Al Hamra International Exhibition and Convention Center in Ras Al Khaimah. This landmark event will […]
DMCC and CV VC Partner to Enhance Regional Web3 Ecosystems
The Dubai Multi Commodities Centre (DMCC) has formed a new strategic collaboration with CV VC, one of Switzerland’s top early-stage blockchain venture capital firms. This agreement was signed at the annual CV Summit 2024, Switzerland’s premier blockchain and Web3 event, which brought together thousands of industry leaders and entrepreneurs in Zug this week. The partnership […]
Bitcoin Drops Amid Escalating Middle East Tensions: Investors Seek Safe Havens
Cryptocurrencies experienced a significant drop during the U.S. session on Tuesday as escalating tensions in the Middle East prompted investors to move away from riskier assets. Bitcoin (BTC), the largest digital asset by market cap, initially rose to around $64,000 during European trading before quickly falling to $62,500 after Axios reported indications from the White […]