Hermi De Ramos

The kingdom is currently diversifying its economy away from oil and turning to new opportunities, such as gaming and Web3.

The M2 platform will launch later in 2023, allowing UAE-based retail and institutional clients to buy, sell and custody digital assets.

Although the proposed virtual asset regulatory framework in Oman covers FATF-defined assets, the issuance of privacy coins might get banned.

Laser Digital said it would also launch trading and asset management operations in the coming months, including over-the-counter service.

The blockchain and Web3 hub will serve as a center for knowledge exchange and collaboration between technology firms and government entities in Africa.

The Web3 security firm urges the rogue developer to return 80% of the stolen funds and offers 20% as a white hat bounty.

According to Bloomberg, the Dubai crypto regulator is also seeking similar details from other global crypto players.

The Swiss crypto bank, however, would stick to its policy of not onboarding United States clients as it focuses on its core target market.

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.

The free zone for virtual asset firms in the Ras Al Khaimah emirate aims to foster regulated and non-regulated activities.

Free-trade zones in the UAE are areas where entrepreneurs have 100% ownership of their businesses and have different regulatory frameworks and tax schemes.

Despite the warnings about investing in digital assets by Oman’s central bank, about 65,000 residents hold cryptocurrencies.