Cryptocurrency Analysis and News Portal
The United Arab Emirates is reportedly planning to issue a federal crypto license for virtual asset service providers (VASPs) by the end of the first quarter.The Securities and Commodities Authority (SCA) in UAE is reportedly in the final stages of finalizing the legislation that would allow digital asset firms to
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The Middle Eastern country is gearing up to become a global crypto hub. Original Source
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United Arab Emirates (UAE)’s Ministry of Economy has joined hands with the Arab Federation of Capital Markets (AFCM) to kickstart a challenge that encourages fintechs to create a know-your-customer (KYC) verification system based on blockchain technology. Trustworthiness of Data on the Blockchain The AFCM has, in conjunction with the UAE’s Ministry
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Al Fardan Exchange, a money transfer firm, has joined up with Ripplenet in a deal that will see the company use the Ripplenet blockchain when sending funds across national borders. Al Fardan’s Reasons for Joining Ripple A United Arab Emirates (UAE)-based money transfer platform, Al Fardan Exchange, has partnered with Ripple
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While many countries are inclined to simply ban the use of Bitcoin (BTC) and virtual assets, regulators in the United Arab Emirates are taking a different approach. The country has been consistently enacting its vision of becoming a blockchain capital by providing frameworks to guide crypto businesses on how to operate
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Under stringent new UAE regulations designed to safeguard the public from financial fraud, cyber criminals who promote cryptocurrency frauds online face up to five years in prison and fines of up to $272 million. Crypto-scammers To Face 5 Years Imprisonment Promoters of online cryptocurrency frauds now risk a possible five-year prison sentence
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Fraudsters promoting online cryptocurrency scams in the United Arab Emirates (UAE) now face a possible five-year jail sentence plus a fine of up to $272,000, according to a report. The new measures, which are set to take effect on January 2, 2022, are part of the government’s effort to protect
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Mubadala Investment Company, one of United Arab Emirates’ sovereign wealth funds, is looking at investments in the ‘crypto ecosystem,’ CEO and Managing Director Khaldoon Al Mubarak said in an interview with CNBC.“I think its (crypto) is real, this is a business that had $200 billion worth of value two years
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The United Arab Emirates’ postal operator is issuing nonfungible token (NFT) stamps to commemorate the federation’s 50th National Day, offering further evidence that digital collectibles are gaining mainstream appeal globally. Emirates Post Group, or EPG for short, announced this week that it has become the first postal organization in the Middle
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“This is a key milestone, we hope that through our knowledge and capital, we can bring great talent and technology to the region through Dubai. ECN is an important platform that can multiply the impact of our reach,” said Ahmad Aljariri, CEO of the private office, in a press release. Source
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