The company must now navigate through the subsequent phases — obtaining a preparatory license followed by the final operating license — to fully offer its crypto services to regional clients.
- News
Nexo puts recent woes behind it with Middle East license approval - News
Animoca’s Mocaverse, KuCoin to streamline cross-platform identity The partnership will combine Mocaverse’s Moca ID, KuCoin’s user accounts and Halo’s Genesis membership pass to “redefine on-chain identity and facilitate growth” in the Web3 space.
- News
Deus X, Bridgetower debuts $250M digital asset venture in Middle East The new entity is aimed at opening the doors for the Middle East’s institutional investors to crypto, staking and AI.
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Binance, crypto firms optimistic about UAE amid potential US regulatory shift Ghaf Capital managing partner Feras Al Sadek argued that the UAE’s “regulation by education” sets it apart from other jurisdictions.
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Dubai regulator grants crypto license to Bahrain’s CoinMENA The permit allows CoinMENA to provide retail and institutional customers in the United Arab Emirates with the ability to deposit and withdraw in UAE dirhams.
- Interview
Animoca Brands to focus on creator economy, interoperability in 2024 CEO Robby Yung outlines the company's focus on gaming and adjacent sectors to drive Web3 adoption, leveraging NFTs and interoperability.
- News
KuCoin pledges $20K grant to TON Foundation for ecosystem development The funding will support TON ecosystem projects, research and development efforts, community-building and marketing activities.
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Bitcoin ETFs, user experience will drive adoption — eToro CEO Yoni Assia told Cointelegraph that products like Bitcoin ETFs align with institutions’ existing modes of operation, making it easier for them to enter the market.
- Interview
US regulators doing ‘good job of alienating’ crypto sector — Cardano founder Charles Hoskinson took a jab at the perceived inconsistency in applying decentralization standards by the U.S. SEC.
- Interview
Ripple exec reiterates need for tech-neutral crypto regulations Navin Gupta, managing director of South Asia, Middle East and North Africa (MENA) at Ripple, told Cointelegraph that education and introducing non-speculative use cases can help crypto companies navigate through varying regulations.
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How decentralized platforms democratize crypto funding initiatives Kriss Baird, the principal figure of Cardano’s Project Catalyst, spoke with Cointelegraph about the initiative, the extent of the collective’s involvement in shared resources and the direction of the platform’s development.
- News
Cardano upgrade delays tied to measured academic approach — CEO Cardano Foundation CEO Frederik Gregaard told Cointelegraph that the pieces of research that the network has “spent years of doing and implementing” are already being used by some of the fast-moving blockchain platforms.
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How blockchain, AI can help research into extending human life Jasmine Smith, CEO of Web3-based wellness app Rejuve.AI, told Cointelegraph that decentralized and AI-powered platforms for health research do not aim to replace doctors and clinicians but rather help them in their work.
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Metaverse projects failed on lack of correct business model: MetaMinds CEO As the metaverse loses its appeal to some global tech leaders, MetaMinds Group CEO Sandra Helou argues that failures in metaverse initiatives resulted from a lack of proper business models.
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UK’s FinProm a welcome change, but challenge persists — Transak compliance head Transak’s compliance chief, James Young, told Cointelegraph that while the U.K.’s new crypto marketing rules are good for the industry, they still pose challenges to some firms operating in the decentralized space.
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UAE emirate launches new free zone for digital assets, Web3 and AI Ras Al Khaimah, known for its rich cultural sites, is turning to the digital assets sector to diversify its economy away from traditional avenues such as tourism.
- Analysis
Saudi Arabia looks to blockchain gaming and Web3 to diversify economy The kingdom is currently diversifying its economy away from oil and turning to new opportunities, such as gaming and Web3.
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Abu Dhabi grants virtual asset firm M2 permission to offer crypto services The M2 platform will launch later in 2023, allowing UAE-based retail and institutional clients to buy, sell and custody digital assets.
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Oman financial regulator seeks feedback on proposed virtual asset framework Although the proposed virtual asset regulatory framework in Oman covers FATF-defined assets, the issuance of privacy coins might get banned.
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Nomura’s crypto arm Laser Digital bags Dubai VARA license Laser Digital said it would also launch trading and asset management operations in the coming months, including over-the-counter service.
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Kenya partners with Abu Dhabi's Venom Foundation to build blockchain, Web3 hub The blockchain and Web3 hub will serve as a center for knowledge exchange and collaboration between technology firms and government entities in Africa.
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CertiK to launch compensation plan for $2M Merlin DEX exploit The Web3 security firm urges the rogue developer to return 80% of the stolen funds and offers 20% as a white hat bounty.
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Dubai regulator demands Binance provide info on ownership, governance: Report According to Bloomberg, the Dubai crypto regulator is also seeking similar details from other global crypto players.
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Sygnum sees increased crypto firm inquiries after US banking giants collapse The Swiss crypto bank, however, would stick to its policy of not onboarding United States clients as it focuses on its core target market.
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UAE central bank signs deal for CBDC strategy The CBDC strategy was first unveiled in February as part of the central bank’s program to position the UAE as a global financial hub.
- Interview
UAE free zone to explore Bitcoin payments for services, lawyer says The free zone for virtual asset firms in the Ras Al Khaimah emirate aims to foster regulated and non-regulated activities.
- News
UAE emirate to launch free zone for digital and virtual asset firms Free-trade zones in the UAE are areas where entrepreneurs have 100% ownership of their businesses and have different regulatory frameworks and tax schemes.
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Oman to establish regulatory framework for virtual assets Despite the warnings about investing in digital assets by Oman’s central bank, about 65,000 residents hold cryptocurrencies.