Saudi Arabia looks to blockchain gaming and Web3 to diversify economy
The kingdom is currently diversifying its economy away from oil and turning to new opportunities, such as gaming and Web3.
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US regulators deny blocking AI chip exports to Middle East
The U.S. Department of Commerce denied blocking AI chip sales to the Middle East and remained silent about whether the requirements were only imposed on specific countries.
Oman launches $370M crypto mining center: Report
The mining facility comes as part of a plan to accelerate the digitalization of Oman’s economy, which is mainly dependent on oil exports.
Abu Dhabi grants virtual asset firm M2 permission to offer crypto services
M2 platform will launch later in 2023, allowing UAE-based retail and institutional clients to buy, sell and custody virtual assets.
Oman financial regulator seeks feedback on proposed virtual asset framework
Although the proposed virtual asset regulatory framework in Oman covers FATF-defined assets, the issuance of privacy coins might get banned.
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.
Dubai’s VARA approves OKX ‘preparatory’ license as part of exchange’s expansion plans
The middle eastern arm of the exchange said it had opened an office in the Dubai World Trade Center and planned to increase its staff to 30 people.
Marathon Digital announces immersion crypto mining operations in Abu Dhabi
The mining firm expects the two facilities to be online by 2024 and produce a combined hash rate of roughly 7 EH/s.
Islam and crypto: How digital assets can comply with Islamic financial law
A look at cryptocurrency’s role in the world of Islamic banking and finance.
IMF examines CBDC design in context of Islamic banking, finds some risks magnified
A central bank digital currency’s liquidity and foreign exchange would work differently Islamic law from what might be expected.