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 deployment of blockchain technology can save the United Arab Emirates more than $3 billion, new research shows.
UAE Can Save Over $3B by Deploying Blockchain, New Research Reveals
Singapore-based crypto exchange Huobi partnered with a real estate firm in the UAE to offer secure crypto payment options for its real estate investors.
Huobi Exchange Partners With UAE Real Estate Firm to Enable Crypto Payments
Saudi Crown Prince Mohammed bin Salman arrived in the United Arab Emirates for an official visit yesterday to discuss joint policy measures, including a digital...
Saudi-UAE Leaders Confirm Forthcoming Jointly-Issued Digital Currency
A Dubai-based Canadian expat has been arrested for peddling an allegedly fraudulent “Sharia-compliant” cryptocurrency and a host of other get-rich-quick schemes...
‘Bitcoin of the Middle East’ Scam Lands Canadian Expat in Dubai Jail
Can the U.K. draw inspiration from the UAE and China to regulate cryptos instead of banning them? FCA decides.
The Future of Cryptocurrencies in the UK Hangs on FCA’s Decision
As crypto regulation is accepted in UAE blockchain projects could stand to benefit.
UAE Accepts Crypto Regulation, Blockchain Projects Stand to Benefit
Here is a list of where and how to secure ownership rights for businesses and real estate through a blockchain.
Blockchain Registers for Recording Ownership Rights Around the World