eToro Receives Approval to Operate in UAE
Under Financial Services Permission (FSP), social trading platform eToro is now permitted to offer cryptocurrency and securities trading in the United Arab Emirates. The international investing and trading platform eToro has said that it has received its most recent license from the United Arab Emirates. The Financial Services Regulatory Authority of ADGM explicitly granted the […]
Dubai’s Crypto Regulator Puts BitOasis’ Licence On Hold
BitOasis said it is working with Dubai’s Virtual Assets Regulatory Authority (VARA) after the regulator suspended its operational license. VARA stated that BitOasis failed to meet some conditions within 30 to 60 days of receiving the license in April. VARA is the regulatory authority responsible for overseeing the virtual assets sector in Dubai, including special […]
UAE Tops as Bitcoin Mining Location in the Middle East
The United Arab Emirates (UAE) is progressively establishing itself as the region’s premier Bitcoin mining location, with a combined Bitcoin mining capacity of 400 megawatts, about 4% of Bitcon’s global hash rate. With 30 free trade zones, the Middle East has established itself as a Web3-friendly destination for crypto-focused businesses, and by 2023, the region […]
UAE free zone partners with HBAR foundation to aid Web3 startups
The HBAR Foundation and RAK Digital Assets Oasis, a free zone in the United Arab Emirates devoted to cryptocurrency businesses, have signed a memorandum of understanding. In order to encourage the ecosystem’s members through a grant program and assist them in using the Hedera blockchain, the HBAR Foundation and RAK Digital Assets Oasis (RAK DAO), […]
UAE Central Bank Tightens AML Rules for Virtual Assets
The UAE Central Bank has issued new anti-money laundering and counter-terrorism financing guidelines for financial institutions that deal with virtual assets, such as cryptocurrencies and non-fungible tokens (NFTs). The new guidance aims to enhance the regulatory framework and combat money laundering and terrorist financing in the rapidly growing sector. Strengthening the Regulatory Framework The new […]