News
The United Arab Emirates has adopted a favorable approach towards crypto. Now, its postal operator is issuing NFTs to commemorate National Day.
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UAE News
The UAE, or the United Arab Emirates, is a federal state composed of seven states located in the Near East. The UAE has a strong economy and currently is thirteenth in the world by GDP due to its oil production. In terms of Bitcoin, the UAE government created a legal framework in 2016 that has become the foundation for future cryptocurrency regulation. Despite these regulations prohibiting payment services from providing transactions in Bitcoin, the new law, in accordance with the Central Bank, can be interpreted differently, depending on certain situations. However, the country is a great platform for innovation. The UAE has recently accepted the UAE Blockchain Strategy in order to become one of the most advanced countries in the blockchain technology sphere.
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The DFSA is establishing itself as an innovative regulator for the region by focusing on fintech and innovative technology.
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The UAE continues to be one of the friendliest jurisdictions worldwide for the digital asset industry.
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The event saw friendly boxing matches between prominent crypto Twitter entrepreneurs, with RookieXBT taking the WBC Crypto Champion belt.
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“Our aim is to build the largest and most trusted cryptocurrency platform in the region,” BitOasis CEO Ola Doudin said.
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A new study from Hong Kong regulators is expected to present initial thoughts and findings on CBDCs during the summer of 2022.
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BitOasis has partnered with the Dubai Police Force to establish safety regulations around crypto investments in the region, according to the exchange’s CEO.
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Dubai authorities continue driving more adoption to the cryptocurrency industry by pushing more regulatory approvals.
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The United Arab Emirates has been cementing its presence in the digital asset industry recently with multiple efforts to further adopt blockchain-based technologies.
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As a part of the 2023-2026 strategy, CBUAE intends to be among the world's top 10 regulators.
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HSBC plans to improve the KYC process for local investors and corporate clients by leveraging blockchain technology.
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3iQ launched its Bitcoin Fund trading on Nasdaq Dubai after receiving regulatory clearance for a dual listing in April.
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The precious metals refined on the site will be tokenized and traded on the DMCC Gold Exchange platform.
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The UAE government’s adoption of blockchain technology for its legal notary services builds on its ambitions to go completely digital.
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Dubai’s Department of Economic Development wants to accelerate the total adoption of UAE KYC — the national Know Your Customer standard running on blockchain technology.
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