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Bahrain-headquartered crypto exchange Rain announced receiving the first Financial Services Permission (FSP) from Abu Dhabi Global Market’s Financial Services Regulatory Authority to operate a virtual assets brokerage and custody service.…
The announcement followed crypto exchange Binance receiving similar permission from the Abu Dhabi regulator in November 2022.
The United Arab Emirates’ combined Bitcoin mining capacity is estimated to be around 400 megawatts or 4% of Bitcon’s global hash rate.
Once fully licensed in Dubai, Bybit plans to run a full-scope exchange, offering crypto lending, payments, investment and other services.
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.
The licensed financial institutions would be required to verify the identities of all customers.
The blockchain and Web3 hub will serve as a center for knowledge exchange and collaboration between technology firms and government entities in Africa.
According to Bloomberg, the Dubai crypto regulator is also seeking similar details from other global crypto players.
PRESS RELEASE. Tallinn, Estonia – Gofaizen & Sherle, a leading fintech and crypto consultancy firm based in Estonia, has recently launched its first crypto product for the United Arab Emirates…
The CBDC strategy was first unveiled in February as part of the central bank’s program to position the UAE as a global financial hub.