Bitget Crypto Exchange MENA users make up 10% of its total global user base
Bitget, a global cryptocurrency exchange and Web3 company, has announced an all-time high in trading volumes in the MENA region while witnessing a growth of 500% in trading volumes since it started serving the MENA region in November 2023. Bitget now boasts of 2.5 million users from the MENA region, making up 10% of its […]
Effects of FinCEN convertible virtual currency mixing seen first in UAE
At the onslaught of the Israel Gaza war, the eyes of the world turned to Hamas and it’s financing. On October 19th FinCEN (U.S Department of the Treasury’s Financial Crimes enforcement network) proposed new regulations to enhance the transparency in convertible virtual currency (CVC) mixing and combat Terrorist Financing, mentioning Hamas, Palestinian Islamic Jihad. This […]
Bahrain becomes first country in MENA region to launch onshore security token regulations
The Central Bank of Bahrain (CBB) has announced the issuance of new regulations for security tokens, expanding its existing crypto asset module. This move marks the first time a GCC country has regulated security tokens onshore. Under the new regulations, the CBB will examine the underlying economic purpose, structure, characteristics, and rights attached to digital […]
Sharia-compliant exchange, CoinMENA prepares for launch with Bahrain license
TL;DR Breakdown: A Sharia-compliant exchange CoinMENA has received a license from Bahrain central bank for launch. The exchange will serve both institutions and retail investors in MENA. A new digital currency exchange, CoinMENA, is set for launch in Bahrain after receiving a virtual asset license from the country’s central bank. The soon-to-launch exchange aims to […]
US Coinbase backs Bahrain-based crypto exchange
TL;DR Breakdown: Rain Financial is now a Coinbase-backed crypto exchange. The exchange raised $6 million in a new funding round that included the US exchange and MEVP. The leading United States cryptocurrency exchange, Coinbase, is now backing one of the leading cryptocurrency startups in Bahrain, Rain Financial, following the company’s Series A funding round. Rain […]
