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.
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.
UAE central bank signs deal for CBDC strategy
Cointelegraph explored the United Arab Emirates to see how NFTs are used in the region.
SVB collapse chilled NFT trading volumes: Nifty Newsletter, March 15–21
After completing the preparatory stage and obtaining an operational license in Dubai, Crypto.com plans to provide a comprehensive range of institutional service...
Crypto.com gets MVP preparatory license from Dubai regulator
Cointelegraph went to an electronic dance music concert and spoke to projects at the recent AIBC Dubai event to see how nonfungible tokens are used in the Unite...
Dubai to Abu Dhabi: How NFTs are used in the UAE
The bridge would be the second for the UAE, whose banks successfully participated in the mBridge project last year with Hong Kong, China and Thailand.
India, UAE to explore CBDC bridge to facilitate trade, remittances without USD
FTX’s sister company, Alameda Research, agreed to sell its interest in Sequoia Capital to Abu Dhabi’s sovereign wealth fund for $45 million.
Alameda Research to sell interest in Sequoia Capital to Abu Dhabi for $45M
Crypto mining operators, custodians and Binance personally received a fine doze of the United States officials' attention last week.
American regulators are pushing hard against crypto: Law Decoded, Feb. 28–March 6