Abu Dhabi grants virtual asset firm M2 permission to offer crypto services
M2 platform will launch later in 2023, allowing UAE-based retail and institutional clients to buy, sell and custody virtual assets. Go to Source
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Oman financial regulator seeks feedback on proposed virtual asset framework
Although the proposed virtual asset regulatory framework in Oman covers FATF-defined assets, the issuance of privacy coins might get banned. Go to Source Powered by WPeMatico
Nomura’s crypto arm Laser Digital bags Dubai VARA license
Laser Digital said it would also launch trading and asset management operations in the coming months, including over-the-counter (OTC) service. Go to Source Powered by WPeMatico
Abu Dhabi regulator grants trading firm Rain permission to offer crypto services
The announcement followed crypto exchange Binance receiving similar permission from the Abu Dhabi regulator in November 2022. Go to Source Powered by WPeMatico
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. Go to Source Powered by WPeMatico
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 … Read more
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. Go to Source Powered by WPeMatico
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. Go to Source Powered by WPeMatico
Growing Links Between Middle East, Russia, China Pose Huge 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 … Read more
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. Go to Source Powered by WPeMatico