The United Arab Emirates (UAE) is formulating a licensing regime for virtual asset service providers to formalize the crypto economy and become a global industry hub. Meanwhile, various free zones in the country had introduced crypto regulations as early as 2018. According to Bloomberg citing government officials, the UAE is readying to issue federal licenses…
555 ViewsAccording to the Chainalysis report, crypto-based crime hit an all-time high in 2021, with illicit addresses receiving $14 billion over the year, up from $7.8 billion in 2020. Janey Young, the head of Global Investigations at Chainalysis, explained how blockchain analytics can help combat cryptocurrency crime in the UAE. The last 12 months have been…
583 ViewsUAE-based digital wallet provider Hubpay has raised $20 million in a Series A round. Hubpay aims to facilitate the process of money transfers on a domestic and international level. The funding will be used to hire new employees and for the company’s planned international expansion in 2022, focusing on Asia and Africa, Magnitt reported. The…
958 ViewsUAE’s engineering firm Al Habtoor Group in partnership with Luna PR, a Dubai-based digital marketing agency, announced “Last Hopium,” an NFT project aimed to use blockchain technology to bridge digital asset holders to big hotels like Ritz, Hilton, and Waldorf. The release of the NFT collection will be during Q1 2022. Al Habtoor Group joins…
976 ViewsHow the forward-thinking Gulf nation is becoming a booming capital for cryptocurrency businesses, writes Rebecca Anne Proctor for Jewish Insider. The United Arab Emirates has long been considered a desirable destination for doing business. Now, the Gulf nation appears poised to become a global hub in the burgeoning — but controversial — field of cryptocurrency….
458 ViewsBlockchain and cryptocurrencies are not only difficult to regulate but are also here to stay, said Varouj Nerguizian, CEO of the UAE-based Bank of Sharjah. However, despite this prediction, the CEO admits that many in the banking sector still do not fully understand this technology. Varouj Nerguizian, the CEO of Bank of Sharjah, has said…
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