Middle East – Page 3

Dubai’s VARA approves OKX ‘preparatory’ license as part of exchange’s expansion plans

The middle eastern arm of the exchange said it had opened an office in the Dubai World Trade Center and planned to increase its staff to 30 people.

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Large Immersion Cooled Crypto Mining Farms to Extract Bitcoin in Middle East Desert

A project to build two large-scale facilities for cryptocurrency mining is underway in the United Arab Emirates (UAE). The high-tech data centers will rely on a full immersion solution to cool the power-hungry miners as the desert climate renders air-cooled mining infeasible, participants said. Advanced Crypto Mining Facilities in Abu Dhabi to Defy Cooling Challenges […]

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Marathon Digital announces immersion crypto mining operations in Abu Dhabi

The mining firm expects the two facilities to be online by 2024 and produce a combined hash rate of roughly 7 EH/s.

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Coinbase execs visit UAE to test potential of ‘strategic hub’ for international operations

“I think the U.S. right now is a little bit behind in terms of regulatory clarity and some of the rhetoric from the top,” said Brian Armstrong at the Dubai Fintech Summit.

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Growing Links Between Middle East, Russia, China Pose Huge Challenge for US, Warns Former Treasury Secretary

Growing Links Between Middle East, Russia, and China Pose Significant Challenge for US, Warns Former Treasury Secretary

Former Treasury Secretary Lawrence Summers has expressed concerns that a rising number of countries, including China, Russia, and the Middle East, are aligning themselves and gaining global influence. “I think [it] is a huge challenge for the United States,” he cautioned. Larry Summers on Countries Banding Together Against the US Former Treasury Secretary Lawrence Summers […]

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Islam and crypto: How digital assets can comply with Islamic financial law

A look at cryptocurrency’s role in the world of Islamic banking and finance.

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US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States

After Saudi Arabia and members of the Organization of the Petroleum Exporting Countries (OPEC) surprised the world by announcing cuts to oil production, a spokesperson for U.S. president Biden’s National Security Council stated that reducing production is not advisable. According to a recent report, Saudi Arabia’s crown prince Mohammed bin Salman has told associates that […]

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IMF examines CBDC design in context of Islamic banking, finds some risks magnified

A central bank digital currency’s liquidity and foreign exchange would work differently Islamic law from what might be expected.

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Tel Aviv Stock Exchange’s crypto trading proposal a ‘closed-loop system’

Israeli crypto users will soon have a new means of regulated crypto trading, but the local ecosystem is not convinced that this is what the crypto industry needs.

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Crypto Seen as Investment Opportunity in the MENA Region Says Iceberg Capital Executive Chairman

While interest in digital assets has waned in some parts of the world, in the Middle East and Northern Africa adoption of crypto has been skyrocketing according to Mustafa Kheriba, the executive chairman of the asset management firm Iceberg Capital Limited. According to Kheriba, factors such as high inflation and residents’ desire for high-return investment […]

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