UAE tightens control over crypto real estate money laundering

    On August 8, the UAE introduced new reporting requirements for real estate transactions involving digital assets. The new rules require all real estate agents, brokers, and law firms to report all property transactions with crypto assets. According to the UAE government, the new rules are aimed at clamping down on money laundering and terrorist financing….

    Dubai real estate developer DAMAC completes deals in crypto worth $50 million

    The Dubai-based real estate developer, DAMAC Properties, has completed cryptocurrency deals worth $50 million since the beginning of 2022, the company’s COO Ali Sajwani revealed. In his interview, Sajwani said by accepting either Bitcoin or Ethereum as payment, DAMAC has shown the extent to which his company will go in order for it to “benefit…

    Oman incorporates real estate tokenization in the Virtual assets regulatory framework

    Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)’s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. The Oman virtual asset regulation will be finalized by Q3 of 2022. Oman Capital Market Authority…

    Crypto payments will revolutionize rent and buying UAE real estate – expert

    Opening up the UAE real estate to cryptocurrency payments could be the biggest change to the sector since the Palm Jumeirah was announced, said Christopher Flinos, the CEO of Hayvn. According to Hayvn CEO, the benefits of crypto payments, including no cheques, no loans, no fees, no taxes, and lower costs, make better houses more…

    Digitizing the real estate sector in the UAE

    Technological innovations in digital assets, blockchain, and NFTs are expected to transform the real estate assets in the MENA region making them more liquid, digital, and accessible for people who are unable to access them due to high capital costs, complicated transaction processes, and restricted deals. According to GB Invest February 2022 edition, the global…