Beam Foundation to debut $150M gaming fund in Abu Dhabi
Beam Ventures will launch in 2025, providing funding and acceleration for blockchain gaming startups in the United Arab Emirates. Go to Source
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Changpeng Zhao says it’s ‘inevitable’ for China to build a BTC reserve
The former Binance CEO said that the Chinese government’s lack of transparency overall made it difficult to predict any crypto policies. Go to Source
CoinDCX’s BitOasis receives full crypto license in Dubai
BitOasis’ acquisition of the full VASP license marks the final step in BitOasis’ VARA licensing process, targeting a range of crypto trading services. Go to Source
UAE and Saudi Arabia Deepen Ties With Russia Amid Global Shifts
The United Arab Emirates (UAE) and Saudi Arabia are bolstering strategic ties with Russia, with the UAE seeking a partnership and Saudi Arabia enhancing diplomatic collaboration for regional stability. UAE and Saudi Arabia Strengthen Strategic Ties with Russia During a meeting in Dubai, UAE President Sheikh Mohamed bin Zayed Al Nahyan emphasized his intent to … Read more
US lagging behind in global stablecoin adoption — Chainalysis
Growing demand for US dollar-backed stablecoins and regulatory uncertainty in the US are the key reasons for stablecoins thriving in other jurisdictions. Go to Source
Brazil Pushes BRICS to Shift From US Dollar, Advocating National Currencies in Global Trade
Brazil pushes for a shift away from the U.S. dollar within the BRICS alliance, advocating for more use of national currencies in trade among member countries. As the group expands, discussions on alternative payment platforms are gaining momentum ahead of the BRICS summit in Kazan. Brazil aims to advance this initiative during its 2025 chairmanship, … Read more
AED Stablecoin Gets Green Light From UAE Central Bank
AED Stablecoin LLC has received approval from the Central Bank of the United Arab Emirates (UAE) to launch its stablecoin, AE Coin. This makes AED Stablecoin the first entity in the UAE to issue stablecoins, aligning with the government’s digital strategy. AE Coin is a fiat-backed stablecoin, meaning each coin is backed by the AED … Read more
BRICS Nations Set for 4.4% Growth in 2024-2025, Outpacing G7 Economies
Russian Finance Minister Anton Siluanov has emphasized the rising influence of BRICS nations during a recent event, noting their projected economic growth of 4.4% in 2024-2025, compared to 1.7% for G7 countries. Siluanov highlighted BRICS’ growing share of global GDP, now at 36.7%, and the addition of new members like Saudi Arabia, Iran, and the … Read more
UAE Introduces Retroactive VAT Exemptions for Crypto Transactions
The United Arab Emirates has introduced VAT amendments that impact crypto transactions, redefining tax obligations for companies in the digital asset space. Under the new rules, businesses dealing with cryptocurrencies and other digital assets must carefully evaluate their tax positions, especially as some provisions retroactively affect transactions since 2018. UAE’s VAT Amendments Introduce Retroactive Tax … Read more
Ripple receives in-principle license approval in Dubai
Ripple has acquired in-principle financial services license approval from Dubai’s DFSA, moving closer to offering cross-border crypto payment services in the UAE. Go to Source
