The past day has seen an interesting turn of events in the cryptocurrency sector. With the fast-approaching change in the US administration, Bitcoin has reclaimed its $98K level positioning itself for an incoming bull run. Meanwhile, the regulatory landscape has seen activity as well, with the SEC’s latest move against
The UAE is witnessing a remarkable surge in cryptocurrency investments. According to a recent eToro survey, 37% of UAE investors plan to increase their crypto investments in 2025. Bitcoin and stablecoins, such as Tether, continue to dominate the market. From 2023 to June 2024, the UAE saw a $34 billion
The U.S. Treasury Department, in coordination with the UAE, has imposed sanctions on two Chinese nationals and a UAE-based company for their involvement in laundering millions in cryptocurrency for North Korea. This action underscores the U.S. commitment to countering financial networks that support North Korea’s illicit activities. The Treasury’s Office
The UAE’s Ras Al Khaimah Digital Assets Oasis (RAK DAO) plans to introduce a legal framework for decentralized autonomous organizations (DAOs). This framework will be discussed at the DAO Legal Clinic, an event organized by the law firm NeosLegal, on October 25. Significantly, the new framework aims to clarify the
The Central Bank of the UAE has granted in-principal approval for the first AED stablecoin. Furthermore, this milestone, announced on October 13, 2024, marks a significant advancement in the UAE’s digital currency landscape. The stablecoin will be pegged to the UAE dirham, aiming to provide stability for digital transactions. Al
Ripple, the company behind the leading cryptocurrency XRP, has obtained in-principle approval from the Dubai Financial Services Authority (DFSA) to expand its blockchain-based payment services in the United Arab Emirates (UAE). According to the official announcement, this approval would lead Ripple to operate from the Dubai International Financial Centre (DIFC).
The crypto-friendly country of Dubai is stepping up its approach to marketing virtual asset investments as the city’s crypto sector continues to grow. Dubai’s Virtual Asset Regulatory Authority (VARA) has announced new marketing regulations that will take effect on October 1, 2024. This initiative marks the UAE’s first significant move
The United Arab Emirates (UAE) has taken a significant step towards solidifying its position as a global leader in virtual assets. A new cooperation agreement between the Securities and Commodities Authority (SCA) and Dubai’s Virtual Assets Regulatory Authority (VARA). The agreement was signed in September 2024 at the SCA’s Dubai
The United Arab Emirates has requested the French government to provide Telegram founder Pavel Durov with all consular services urgently following his arrest in Paris. The Ministry of Foreign Affairs stated, “Caring for citizens, preserving their interests, following up on their affairs, and providing them with all the aspects of
Investors in the cryptocurrency market have taken notice of the latest declaration from top stablecoin issuer Tether. The USDT issuer recently announced plans to create and release a stablecoin linked to the UAE dirham in an X post. Taking advantage of the increasing use of blockchain technology in the Middle
