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
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The announcement followed crypto exchange Binance receiving similar permission from the Abu Dhabi regulator in November 2022. Go to Source Powered by WPeMatico
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
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
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
“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
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
A look at cryptocurrency’s role in the world of Islamic banking and finance. Go to Source Powered by WPeMatico
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 … Read more
A central bank digital currency’s liquidity and foreign exchange would work differently Islamic law from what might be expected. Go to Source Powered by WPeMatico
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. Go to Source Powered by WPeMatico