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 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 financial center in one of Dubai’s free-trade zones acts as an independent regulator with its own judicial system
Ripple opens regional office in Dubai following volatile Q3 for XRP
The UAE project will allow clients to trade tokenized sugar 24/7 without brokers, and fits into the Emirate Blockchain Strategy 2021's goals
Commodity trading gets sweeter with blockchain-based sugar exchange
Agriota E-Marketplace may give farmers in India more access to the UAE’s multi-billion dollar food industry.
Blockchain platform connects Indian farmers to UAE food industry
Blockchain firm HashCash plans to create a federated and sovereign digital identity architecture to be used in banking processes.
Blockchain Firm Says Banks Need DLT to Manage Identities Better
The United Arab Emirates is debuting a blockchain-based Know Your Customer, or KYC, platform.
Dubai Debuts Nationwide Data Platform Powered by Blockchain
A foreign resident of Abu Dhabi who was potentially facing jail time over an unpaid $100,000 loan received $27,400 in donations after his story spread.
UAE Resident Who Took Out $100K Crypto Loan Saved by Ex-Coworkers