News list for " united arab"
MANTRA has reached an agreement with UAE-based real estate group DAMAC Group to tokenize at least $1 billion of assets. DAMAC, which covers real estate development, hotels and data centers, has accepted bitcoin and ethereum payments since 2022. Details of the specific tokenization project will be announced in the coming weeks.
Switzerland-based Hashgraph Group has received a fund management license from Abu Dhabi Global Market (ADGM) in the United Arab Emirates. Hashgraph Ventures Manager, a subsidiary of Hashgraph Group, has been granted a license allowing it to launch a $100 million Web3 venture capital fund from Abu Dhabi Global Market (ADGM). Hashgraph Group will contribute $20 million, or 20% of the fund, as seed capital. The fund will focus on investing in Hede...
Binance founder CZ revealed on Twitter that the United Arab Emirates (UAE) holds $40 billion worth of Bitcoin.
The Ministry of Interior of the United Arab Emirates (UAE) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi International Financial Centre (ADGM) have signed a Memorandum of Understanding to enhance coordination in combating virtual asset-related crimes. The agreement requires both parties to share information and strengthen risk mitigation frameworks. The agreement is also reportedly designed to support the UAE's strategy to protect its financial system from evolving threats ...
On November 5th, CZ appeared in Bahrain, another Middle Eastern country, following Binance Blockchain Week in Dubai, UAE at the end of October. He told reporters that before Binance obtained the virtual asset service provider (VASP) license issued by Dubai, it was in the Gulf Arab States Cooperation Council (GCC).
The Ras Al Khaimah Digital Asset Oasis (RAK DAO), a free economic zone focused on digital assets in the United Arab Emirates, is about to introduce a legal framework for decentralized autonomous organizations (DAOs). Law firms NeosLegal and RAK DAO said the new regime will be launched and discussed at the DAO Legal Clinic on October 25. Irina Heaver, a partner at NeosLegal, said the framework is expected to shed light on how DAOs maintain legal compliance.
The Dubai Virtual Assets Regulatory Authority (VARA), one of the regulators of the cryptocurrency industry in the United Arab Emirates, said it has fined seven cryptocurrency entities for operating without the required licenses and violating marketing regulations. VARA did not name the entities and said it was investigating them with the local government. The fines for each entity ranged from 50,000 dirhams (about $13,600) to 100,000 dirhams.
Paxos International, the UAE subsidiary of stablecoin issuer Paxos, has announced the launch of the income-based stablecoin Lift Dollar (USDL) at Arbitrum. USDL is a US dollar-backed stablecoin issued by Paxos International and regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Markets (ADGM).
Amendments to the United Arab Emirates' Value Added Tax (VAT) regulations will exempt the transfer and conversion of virtual assets, including cryptocurrencies. PwC said the new regulations include VAT exemptions for additional services, including managing investment funds and transferring and converting virtual assets.
Standard Chartered said it will begin offering cryptocurrency custody services in the United Arab Emirates, currently supporting custody of BTC and ETH. It is reported that the related custody services launched in partnership with Brevan Howard Digital, the cryptocurrency arm of hedge fund Brevan Howard, have now been licensed by the Dubai Financial Services Authority (DFSA), the specialized financial regulator of the DIFC.
