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UAE and Hong Kong central banks to collaborate on crypto regulation
The Central Bank of the United Arab Emirates and the Hong Kong Monetary Authority have agreed to strengthen cooperation in regulating virtual assets.
Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for the Web3 hub of Asia | Part 2
While U.S. regulators continue debating over whether cryptocurrencies are securities or commodities, the digital assets industry is being pleasantly welcomed by several Asian cities. And the competition is really hotting up now.
Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for the Web3 hub of Asia | Part 1
As U.S. regulators file lawsuits against cryptocurrency platforms, prompting some digital asset companies to seek more favorable jurisdictions, a fleet of cities in Asia are putting out the welcome mat, seeking to attract the jobs and investment that Web3 technologies promise. Right now, Hong Kong seems to be grabbing the limelight, but it has competition.
Bitcoin network buckles under weight of BRC-20’s runaway success
Top blockchain and crypto news: Memecoin fever strains BTC network. Binance slams brakes on Bitcoin withdrawals. Chinese court allows crypto for repaying debt.
United Arab Emirates opens licensing applications for cryptocurrency companies
UAE’s Securities and Commodities Authority said Monday it has started accepting applications for operating licenses from cryptocurrency businesses.
Crypto exchange Fasset hopes to win Indonesia license next month
Dubai-based Fasset says Indonesia digital asset adoption is still in early stages, but the country’s young population is taking to crypto faster, encouraging exchanges to move in despite infrastructure constraints.
Singapore-based Crypto.com gets preparatory license to expand services in Dubai
Singapore-based cryptocurrency exchange Crypto.com will soon be able to extend its services in Dubai, after it received a Minimal Viable Product (MVP) Preparatory License from Dubai’s Virtual Assets Regulatory Authority (VARA).
India, UAE to collaborate on cross-border central bank digital currencies
The Indian central bank and the UAE will jointly run pilot programs on their central bank digital currencies, according to the Reserve Bank of India.
UAE central bank to issue CBDC, promote digital asset growth
The United Arab Emirates plans to launch a central bank digital currency (CBDC), among other initiatives, to become a financial and digital payment hub.
Hex Trust bags virtual asset license from Dubai
Digital asset custodian Hex Trust received the MVP license from Dubai’s Virtual Assets Regulatory Authority on Nov. 24.
Binance gets Abu Dhabi regulator’s nod to offer crypto custody services
Binance, world’s largest cryptocurrency exchange, has obtained Financial Services Permission from Abu Dhabi’s Financial Services Regulatory Authority (FSRA), to provide custody to professional clients in and from the Abu Dhabi Global Market (ADGM), the international financial center of the UAE’s capital.
Hong Kong crypto firm Q9 Capital gets Dubai provisional approval
Hong Kong-based crypto investment firm Q9 Capital has received a provisional virtual asset approval from Dubai’s Virtual Asset Regulatory Authority (VARA), the company said on Wednesday in a statement shared with Forkast.
First Digital Trust says HK, Singapore can join hands on crypto initiatives
In a Q&A with Forkast, First Digital Trust Chief Executive Officer Vincent Chok shared his views on Hong Kong getting back into crypto, regulations, and how the crypto pie in Asia is big enough for rivals Singapore and Hong Kong.
Terra CEO Do Kwon, wanted in South Korea, left Singapore and flew to parts unknown via Dubai
Kwon Do-hyung, the cofounder and chief executive officer (CEO) of Terraform Labs Pte. Ltd., also known as Do Kwon, left Singapore last month and landed in Dubai, United Arab Emirates, South Korean prosecutors confirmed with Forkast.
Crypto.com to invest US$145 mln in France as base for European operations
Crypto.com said on Wednesday that the exchange will invest €150 million (US$145.5 million) in France to set up a European headquarters in Paris and expand operations in the region. See related article: Crypto.com enters South Korea market with two local startup acquisitions Fast facts The Singapore-based exchange said it will focus on compliance, business development […]
UAE crypto market expected to grow 10-fold: report
The cryptocurrency market in the United Arab Emirates (UAE) is expected to grow 10 times, according to a new report from MENA blockchain ecosystem, Crypto Oasis, released Monday at a blockchain conference organized by the Dubai World Trade Centre. See related article: New hire in Saudi Central Bank to work on crypto regulations: report Fast […]
Dubai’s blockchain future
Dubai’s announcement of an Islamic Coin could turn the city into the next crypto promised land.
If the UK wants to become a crypto hub, it must do better
Britain’s internal divisions could thwart its crypt ambitions, writes Nick Saponaro of Divi Labs. Will it be eclipsed by crypto-friendly Dubai?
Animoca Brand’s Sandbox to launch metaverse in Dubai, other global cities
The Sandbox, a subsidiary of Animoca Brands Corp. Ltd., the Hong Kong-based game software and venture capital company, will be taking its Hong Kong metaverse strategy to a new market in Dubai, launching a “Dubaiverse,” the company said at the 62nd edition of the True Global Ventures Conference on Thursday. Animoca Brand’s Dubai-themed metaverse will […]
New hire in Saudi Central Bank to work on crypto regulations: report
Saudi Arabia’s central bank has appointed Mohsen AlZahrani, a former managing director at consultancy firm Accenture, to head its virtual assets and central bank digital currency (CBDC) initiative, Bloomberg reported. See related article: Governments pushing for CBDCs smell blood in Terra Classic’s struggles Fast facts With the United Arab Emirates aiming to be a global […]
Ex-PwC crypto head sets up digital asset fund in Dubai: report
Former PwC crypto arm leader Henri Arslanian said in a report the digital asset fund Nine Blocks Capital Management will receive $75 million from major supporters, including Hong Kong-based hedge fund Nine Masts Capital. See related article: Dubai scorches crypto winter with plans to support 40,000 ‘virtual jobs’ Fast facts See related article: India’s WazirX […]
Komainu latest to get Dubai’s approval to operate
Digital assets company Komainu has received a provisional license from the Dubai Virtual Assets Regulatory Authority (VARA) to offer cryptocurrency products and services to institutional clients in Dubai, CoinDesk said in a report. See related article: Dubai could be crypto’s promised land, Citi says Fast facts Komainu is the latest to receive approval from Dubai […]
Bitcoin back above US$23,000; Ethereum on a tear
Bitcoin and Ethereum see significant gains in spite of Fed rate hike. Meanwhile, Dubai Police announces NFT launch.
Dubai police launch 2nd edition of NFTs, see use case for digital assets
Dubai police are dropping a second round of non-fungible tokens (NFTs), as digital assets conform to their interests in innovation, security and communication. In a statement on their website, Dubai police claim to be the first government entity in the United Arab Emirates (UAE) to create its own digital assets and the first police organization […]
Bitcoin’s real role examined; 3AC’s complex ties revealed
A report says Bitcoin users are looking beyond investment. Meanwhile, court document reveals strong ties between 3AC and TPS Capital.
Dubai scorches crypto winter with plans to support 40,000 ‘virtual jobs’
Dubai aims to be one of the top 10 cities globally in the metaverse economy, creating 40,000 virtual jobs and adding US$4 billion to the city’s economy in five years. See related article: Dubai could be crypto’s promised land, Citi says Fast facts The launch of the Dubai Metaverse Strategy on Monday was aimed at […]
Three Arrows Capital to ditch Singapore for Dubai
Three Arrows Capital, a cryptocurrency trading and hedge fund manager, is moving its headquarters to Dubai from Singapore, becoming the latest among a growing number of firms looking to expand their presence in the Middle East. See related article: Dubai could be crypto’s promised land, Citi says Fast facts Su Zhu, cofounder of Three Arrows […]
Kraken gets Abu Dhabi nod to offer full services in MENA
The Abu Dhabi Global Market (ADGM) Monday said it granted a full license to the global cryptocurrency exchange, allowing it to service customers across the Middle East and North Africa region. See related article: Dubai could be crypto’s promised land, Citi says Fast facts The license from the Financial Services Regulatory Authority (FSRA) of ADGM […]
Crypto industry looks to the UAE; Crypto’s environmental concerns
More crypto players are eyeing the UAE as a hub. Meanwhile, a mysterious map sends Pudgy Penguin NFTs skyrocketing.
Dubai could be crypto’s promised land, Citi says
Dubai and neighboring Abu Dhabi have been on a tear when it comes to crypto service providers moving the core of their operations there.
Australia to list crypto spot ETFs; WazirX founders leave India
Bitcoin and Ethereum ETFs are coming to Australia. Meanwhile, Dogecoin Day has fans hyped.
India’s WazirX cofounders move to Dubai
Cofounders of the Binance-backed Indian crypto exchange WazirX have reportedly moved to Dubai amid regulatory uncertainty and taxation, local media report. See related article: India’s crypto tax will incur losses for government, says WazirX CEO Fast facts Nischal Shetty and Siddharth Menon have reportedly moved to Dubai along with their families. “Crypto has no boundaries,” […]
BSN developer’s NFT warning; LINE launches NFTs
State-backed developer delivers warning on the state of NFTs in China. Meanwhile, LINE launches a NFT marketplace.
MobiKwik pulls crypto support; Twitter NFT hacker strikes again
In India, Mobikwik yanks crypto support. Meanwhile in the cyberspace, a Twitter hack promotes a fake NFT drop.
Binance wins Abu Dhabi nod for another MENA outpost
The world’s largest crypto exchange received an in-principle approval from the Abu Dhabi Global Market (ADGM) to operate as a virtual assets broker-dealer, bolstering Binance’s presence in the Middle East. See related article: Binance wins crypto license in Dubai days after FTX Fast facts Binance will offer virtual asset investment and trading services across the […]
Indonesia levies 0.1% VAT, income tax on crypto
Indonesia will tax income from crypto trading at 0.1% and impose an additional value added tax (VAT) of 0.1% on crypto transactions starting May. See related article: Indonesian regulators play catch-up as crypto investment soars Fast facts The tax rate is lower than the 11% tax that the Indonesian government levies on other goods and […]
Is Dubai the new crypto promised land?
Top blockchain and cryptocurrency news: Dubai’s crypto caravan. Mt. Gox unlocked. Digital yuan in play again.
UAE becoming crypto hub; India’s tax bogeyman
The UAE is becoming the new crypto hub of the world. Meanwhile in India, high crypto taxes are scaring away young investors.
Crypto.com, Bybit book tickets to Dubai to set up UAE bases
Singapore-based cryptocurrency exchanges Crypto.com and Bybit have announced that they will be setting up offices in Dubai, as the industry continues its migration towards the United Arab Emirates (UAE). See related article: As Binance shrinks away in Asia, will it put down roots in the Middle East? Fast facts See related article: Ripple launches first […]