Saudi Arabia News
The Kingdom of Saudi Arabia is a western Asian Islamic country with an area of a little more than two million square kilometers and a population of 33 million people. Saudi Arabia has a petroleum-based command economy that produces one of the largest GDPs in the world, steadily being in the top-20 countries in terms of GDP. Bitcoin is legal is Saudi Arabia. One can exchange and buy Bitcoin in Saudi Arabia. However, the financial authorities of Saudi Arabia issued a warning on Bitcoin trading and offer no protections for cryptocurrency-related losses. There are ATMs for Bitcoin in Saudi Arabia and maintained Bitcoin exchanges. The government of the country is currently liberalizing its political and economic structure, making Saudi Arabia more welcoming for foreign investments and emerging startups. The highly profitable economy may become a solid foundation for future technological development.
The event saw friendly boxing matches between prominent crypto Twitter entrepreneurs, with RookieXBT taking the WBC Crypto Champion belt.
Crypto traders fight in WBS Dubai for Amir Khan’s charity boxing match
Saudi’s biggest oil exporter denied claims of involvement in Bitcoin mining activities but continues to bet on blockchain-focused businesses.
Saudi Aramco dismisses ‘false and inaccurate’ rumors on Bitcoin mining
Bahrain-based crypto exchange CoinMENA acquired a major license ahead of its launch in several countries including the UAE and Saudi Arabia.
Bahrain central bank licenses Sharia-compliant crypto exchange
The joint report is among the most promising CBDC studies conducted by central bank authorities
UAE, Saudi Arabian central banks release report on Project Aber CBDC trial
The Islamic Development Bank’s research organization has partnered with Blocko to build a blockchain credit management system.
Samsung-Backed Blocko to Build Blockchain-Based Credit System for Arab Bank
The Saudi Arabian Monetary Authority has transferred funds to local banks using blockchain technology.
Central Bank of Saudi Arabia Transfers Funds to Local Banks Over Blockchain
Saudi Aramco has joined the already sizeable list of oil companies partnered with Vakt, the provider of a blockchain-based trading settlement platform for North...
Oil Giant Saudi Aramco Buys Into Blockchain Trading Platform Vakt