UAE identified as holding $700M in Bitcoin from mining operations
According to blockchain analytics platform Arkham Intelligence, the United Arab Emirates holds about $700 million in Bitcoin. Arkham traced the mining activity to Citadel Mining, which it said was established…
Ripple Secures DFSA License in the UAE
Ripple has secured a major license in the Middle East after getting regulatory nod from the Dubai Financial Services Authority (DFSA). The license allows Ripple to offer regulated crypto payments…
UAE authorized Bybit’s in-principal approval days before hack
Crypto exchange Bybit has received in-principal approval to establish a virtual assets platform in the United Arab Emirates (UAE). The post UAE authorized Bybit’s in-principal approval days before hack appeared…
DeFi platform MANTRA Finance obtains VASP license in the UAE
MANTRA has secured a VASP license in UAE from VARA. MANTRA can now offer its DeFi products to both institutional clients and qualified investors within the UAE. The OM token,…
The UAE Exempts Crypto Transactions from VAT
The UAE updated its tax laws to exempt crypto transactions from value-added tax. The change will take effect on November 15 but retroactively apply to transactions from January 1, 2018.…
Ripple secures in-principle approval to expand services in the UAE
Ripple announced the in-principle license from the Dubai Financial Services Authority (DFSA) on Tuesday, Oct. 1. DFSA’s approval could see Ripple unlock its end-to-end payment services in the UAE as…
RAKBANK partners with Bitpanda to launch digital asset management platform in UAE
RAKBANK partners with Bitpanda to create a digital asset management platform. The digital asset management platform awaits approval from the Central Bank of the UAE. UAE’s crypto adoption continues to…
M2 crypto exchange to allow UAE residents to trade crypto using bank accounts
M2 enables UAE residents to trade BTC and ETH directly with bank accounts. Integration supports dirham deposits, withdrawals, and market-responsive trading. UAE has strict regulations to ensure consumer protection and…
UAE central bank introduces licensing system for stablecoins
UAE central bank has approved new licensing for dirham-backed stablecoins. The licensing system is part of UAE’s broader Financial Infrastructure Transformation (FIT). The Dubai regulator updated the rules to allow…
Tether partners with RAK DAO to advance crypto education and adoption in UAE
Tether partners with RAK DAO to promote crypto adoption and education in the UAE. The collaboration includes facilitating crypto payments & developing educational programs. Aim is to drive economic growth…