Tag: UAE

The United-States-based cryptocurrency exchange is now seeking a license in the United Arab Emirates as it seeks to escape “hostility and [a] lack of clarity” on regulations in the U.S. The Winklevoss-owned crypto exchange Gemini has announced that it has begun the process of acquiring a crypto service license for customers in the United Arab…

The two central banks are aiming to align their financial service sectors and said both share “many complementary strengths.” Hong Kong and the United Arab Emirates’ (UAE) central banks are looking to collaborate on cryptocurrency regulations and financial technology development. On May 30, the Hong Kong Monetary Authority (HKMA) said it met with its counterparts at the…

The United State crypto ecosystem is facing a “void” of well-established and credible institutions, according to an analyst from ARK Invest. The United States risks losing its position as a leader in the cryptocurrency race against countries including the United Arab Emirates, Korea, Australia and Switzerland, warns ARK Invest analyst Yassine Elmandjra. ▪️Regulatory Uncertainty Around…

Companies that have already acquired licenses from the country’s financial free zones are exempted from the requirement of registering with the regulator. The federal financial regulatory agency of the United Arab Emirates (UAE) has announced that it will start receiving licensing applications for firms that want to provide virtual asset services within the country. The…

Abu Dhabi’s technology ecosystem, Hub71, has announced a new initiative called “Hub71+ Digital Assets,” with a capital backing of over US$2 billion. This project aims to advance Web3-based innovations, such as blockchain technology and metaverse applications. The initiative aspires to provide Web3 startups with access to a range of programs, and initiatives, as well as, corporate, government,…

The issuance of a CBDC aims to address inefficiencies in cross-border payments and drive innovation for domestic payments. The Central Bank of the United Arab Emirates (CBUAE) is planning to launch a central bank digital currency (CBDC) for cross-border and domestic use as part of the first of its newly-launched financial infrastructure transformation (FIT) program….