News
The precious metals refined on the site will be tokenized and traded on the DMCC Gold Exchange platform.
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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 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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A government-run token exchange could be on the horizon for the United Arab Emirates
18003 - Analysis
The UAE has been proactive in integrating blockchain into the existing governance ecosystem, and the private sector benefits from the spillover effect.
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The COVID-19 pandemic has revealed the need for sustainable digitization of the economy, and the UAE is accepting the challenge.
9827 - Analysis
UAE regulators are looking to develop a comprehensive crypto governance framework as part of its 2021 business agenda.
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Some of Asia's largest banking institutions are working together on a “multiple” CBDC project, designed to cross borders and navigate regulations easier than fiat.
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Kiklabb has become the first state-owned entity in the United Arab Emirates to accept cryptocurrency payments.
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Bahrain-based crypto exchange CoinMENA acquired a major license ahead of its launch in several countries including the UAE and Saudi Arabia.
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The Dubai Financial Services Authority is reportedly looking to introduce two crypto-related consultation papers as part of its business plan in 2021.
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The joint report is among the most promising CBDC studies conducted by central bank authorities
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The financial center in one of Dubai’s free-trade zones acts as an independent regulator with its own judicial system
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The UAE project will allow clients to trade tokenized sugar 24/7 without brokers, and fits into the Emirate Blockchain Strategy 2021's goals
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Agriota E-Marketplace may give farmers in India more access to the UAE’s multi-billion dollar food industry.
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