FTX files motion to exclude its Dubai unit from bankruptcy proceedings
FTX filed for bankruptcy in November last year, entering into Chapter 11 proceedings with 102 units around the world. Go to Source Powered by WPeMatico
UAE
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Binance to offer crypto broker-dealer services in Dubai with new license
Binance is now officially allowed to offer crypto services to institutional and qualified retail investors in Dubai. 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
UAE emerges as a pro-Bitcoin mining destination in the Middle East
The United Arab Emirates’ combined Bitcoin mining capacity is estimated to be around 400 megawatts or 4% of Bitcon’s global hash rate. Go to Source Powered by WPeMatico
ByBit’s MVP license in Dubai ‘very restricted,’ CEO says
Once fully licensed in Dubai, Bybit plans to run a full-scope exchange, offering crypto lending, payments, investment and other services. Go to Source Powered by WPeMatico
Winklevoss twins’ crypto exchange Gemini to seek UAE crypto license
The United-States-based cryptocurrency exchange is now seeking a license in the United Arab Emirates as it seeks to escape “hostility and [a] lack of clarity” on regulations in the U.S. Go to Source Powered by WPeMatico
AML rules for digital assets to come into effect in UAE
The licensed financial institutions would be required to identify and verify the identities of all customers. 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
Kenya partners with Abu Dhabi’s Venom Foundation to build blockchain, Web3 hub
The blockchain and Web3 hub will serve as a center for knowledge exchange and collaboration between technology firms and government entities in Africa. 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
