MaskEX Gets VARA Approval for UAE Launch
Next-generation cryptocurrency exchange MaskEX has received initial approval from Dubai’s Virtual Asset Regulatory Authority (VARA) to begin preparations for its launch in the United Arab Emirates (UAE). What does the approval mean for MaskEX? MaskEX, founded in 2021 and committed to empowering users globally and contributing to the development of the crypto and blockchain industries, […]
UAE Welcomes Crypto Firms With New License Rules
The UAE’s federal regulator invites crypto firms to apply for licenses under its new regulatory framework for the sector. The Securities and Commodities Authority (SCA) , the federal regulator of the United Arab Emirates (UAE), announced on Monday that it will start accepting license applications from crypto firms that want to operate in the country. […]
UAE Central Bank Signs CBDC Agreement
The Central Bank of the United Arab Emirates (CBUAE) is inching closer to fully launching its central bank digital currency (CBDC) . According to a statement on March 23, the CBUAE struck an agreement with Abu Dhabi’s G42 Cloud and digital banking services provider R3 to be the infrastructure and technology suppliers of the Central […]
UAE Emirate to launch free zone for digital, virtual assets
One of the UAE Emirate’s Ras Al Khaimah (RAK) is set to launch a free-trade zone for digital and virtual assets where entrepreneurs have total ownership of their businesses, and different regulatory frameworks and tax schemes. While the nation’s approach to the industry continues to draw in international crypto players, Ras Al Khaimah, one of […]
UAE central bank to launch CBDC for Transactions
As the first phase of its financial infrastructure transformation (FIT) program, the Central Bank of the United Arab Emirates (CBUAE) intends to introduce a central bank digital currency (CBDC) for both local and international usage. The CBUAE recently announced the FIT initiative and emphasized its goal of assisting the nation’s financial services industry. The scheme, […]