The Botswana Financial Stability Council’s October 2024 report said the virtual assets market and cyber risks from fintech currently pose minimal threats to financial stability. Tech Advances Fuel Financial Stability Risks Authorities in Botswana consider both the virtual assets market and cyber risks arising from financial technology (fintech) to be relatively undeveloped, posing minimal threats […]
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Botswana’s central bank acknowledges minimal crypto risks but highlights money laundering and regulatory concerns as key priorities.
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The United Arab Emirates’ Interior Ministry has signed a memorandum of understanding with the Financial Services Regulatory Authority to combat virtual assets-related crime. Strengthening Risk Mitigation Frameworks The United Arab Emirates (UAE)’s Interior Ministry has signed a memorandum of understanding with the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) to […]
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Bitoasis, a leading virtual asset platform in the Middle East and North Africa (MENA) region, has received a full virtual asset service providers (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). Securing the full VASP License marks the final step in VARA’s licensing process. This milestone allows Bitoasis to expand its services to retail, […]
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South Korea’s financial regulator says it is taking steps to combat money laundering and other financial crimes involving virtual assets. Virtual Assets and Financial Crime The head of South Korea‘s financial services industry regulator recently vowed to crack down on those who use virtual assets for money laundering. Speaking at Anti-Money Laundering Day, Kim Byung-hwan, […]
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UAE lawyer Irina Heaver told Cointelegraph that the framework would allow even smaller DAOs to operate legally.
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South Korea is forming a 15-member public-private committee to address issues in the virtual asset market and explore cryptocurrency legislation. The committee will include government officials and representatives from the legal profession, academia, and the virtual asset industry. One of its key roles will be to evaluate South Korea’s plans for spot cryptocurrency ETFs and […]
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The Dubai Virtual Assets Regulatory Authority (VARA) has taken action against seven unlicensed crypto entities for operating without licenses and violating marketing regulations. VARA has issued cease-and-desist orders and imposed fines on these entities. The regulator warned the public of the risks associated with dealing with unlicensed crypto businesses, emphasizing the potential for financial and […]
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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 […]
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The Digital Asset User Protection Foundation will be set up by the DAXA self-regulatory organization and receive support from financial authorities.
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