Omar Sultan Al Olama, minister of the digital economy in the United Arab Emirates, has said that the Virtual Assets Regulatory Authority (VARA), the country’s virtual assets regulator, has not awarded any operational licenses as of yet. Al Olama allegedly said during the WEF that neither Binance nor FTX, nor
Thani Al-Zeyoudi, the UAE’s minister of state for international trade, highlighted that the country has gained a great deal of knowledge from the cryptocurrency industry and must now adopt the appropriate regulations to promote continued growth. According to Thani Al-Zeyoudi, cryptocurrency will soon play a significant role in the country’s
The kingdom of Saudi Arabia, whose currency has been pegged to the dollar, seeks to strengthen its ties with prominent trading partners such as China. Finance Minister Mohammed Al-Jadaan announced that the country is open to talking about trading in currencies other than the US dollar. Saudi Arabia Seeks to
The educational institutions in the UAE, have come up with a new initiative, introducing blockchain technology into the curriculum. As a fastest-growing global crypto destination, several schools in the country have decided to implement blockchain and other emerging technologies into syllabuses. The UAE’s schools’ recent move aims to inform the
The Ministry of Economy’s third office would be the metaverse headquarters. The ministry’s two existing offices in Abu Dhabi and Dubai will be supplemented by the new headquarters. The Ministry of Economy of the United Arab Emirates (UAE) has announced a new headquarters in the Metaverse, which anyone in the
D2A2’s main goal is to boost transparency through data and market intelligence. The organization will give digital asset businesses a space to unify their voices. Dubai Chamber of Digital Economy has announced the formation of the Dubai Digital Assets Business Group (D2A2), which aims to strengthen the role of the
The Thumbay Group will launch UAE’s first metaverse hospital shortly. With AR and VR technology, patients can interact with doctors virtually. The healthcare firm Thumbay Group is set to launch the first metaverse hospital in the United Arab Emirates, by October this year. With the virtual healthcare service, the patients
The largest payment network, VISA officially launches Bitcoinblack, a global crypto credit card in The United Arab Emirates. According to a press release issued on Sunday, the Bitcoinblack card provides a limitless spending offer to eligible customers. The crypto card is exclusively available for 10,000 members, across the globe. Unlimited Offers
The Al Jalila Foundation, a United Arab Emirates (UAE) healthcare foundation, has been granted authority to accept digital money, and well-wishers may now contribute through cryptocurrency. Al Jalila Foundation has become one of the first charitable organizations in the United Arab Emirates to accept cryptocurrencies. Unifying the Worlds of Fiat
Dubai is progressing on its journey to transform into a global crypto hub. As of now, the firm will accept only Bitcoin and Ethereum. Binghatti, one of the leading real-estate developers in Dubai, announced in a press release through Khaleej Times on Thursday that it would accept cryptocurrencies as a
