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UAE adopts Cardano blockchain to enhance criminal investigation security

UAE adopts Cardano blockchain to enhance criminal investigation security

The United Arab Emirates (UAE) has incorporated the Cardano blockchain into its criminal investigation operations. The announcement was made during the World Police Summit in Dubai, where the Dubai Police demonstrated a Cardano-based pilot project focused on secure data management related to criminal investigations. This project enables the secure sharing of forensic data, including scans […]

UAE officially stops using dollar for oil trades

UAE officially stops using dollar for oil trades

The global financial landscape is witnessing a seismic shift as the United Arab Emirates (UAE) boldly moves away from the US dollar in its oil trade dealings. This strategic pivot aligns with the broader ambitions of the BRICS economic alliance, of which the UAE is a recent addition. The changeover, involving the transition to local […]

Crypto fraudster lands 8-year prison term for UAE scam

Crypto fraudster lands 8 year prison term for UAE scam

In a landmark legal ruling, a Nigerian citizen and resident of the United Arab Emirates has been sentenced to an eight-year term in a federal prison. The case marked a significant turn in the battle against crypto fraud, revealing the risks and ramifications that lie beneath the lure of the burgeoning digital economy. Olalekan Jacob […]

Bybit’s AED 1M AUS scholarship boosts UAE influence

Bybit Deepens UAE Roots With AED 1 Million AUS Scholarship

Bybit, one of the global leaders in the crypto exchange space, has inked a significant partnership with the American University of Sharjah (AUS), signaling a notable commitment to advancing crypto adoption in the UAE. The signing of a Memorandum of Understanding in Sharjah marks the birth of this landmark collaboration. Bybit bridging academia and Fintech […]

United Arab Emirates will launch a stablecoin for payments

Emirates NBD partners with PWC and Fireblock to launch Digital Asset Lab

According to a new PWC Crypto regulatory report that was released on Dec. 19 for 2023, the United Arab Emirates (UAE) has completed its crypto regulation. This regulation comprises AML/CTF Money laundering and counter-terrorism financing standards, as well as its travel rule. Furthermore, the UAE has already created the stablecoin regulation for payments, which is […]

UAE: Shading off “grey” reputation as more crypto firms flock to Dubai

UAE

The United Arab Emirates (UAE) is struggling to shade itself from (Financial Action Task Force) FATF’s grey list nations. The grey list means UAE is closely monitored for anti-money laundering compliance. Despite being under watch, the country has been a top destination for most cryptocurrency firms. The FATF moved the UAE to its ‘grey’ list […]

Dubai’s Emirates plans to support Bitcoin, NFTs and metaverse 

Dubai’s Emirates plans to support Bitcoin payments, NFTs and metaverse

Amidst the downtrend in the cryptocurrency market, the world’s largest international airline, Emirates, announced Friday it’s planning to embrace Bitcoin (BTC) and other digital solutions like metaverse, NFTs, and blockchain, to seamlessly connect with customers.  Adel Ahmed Al-Redha, the Chief Operating Officer of Emirates, stated that the airline would use Bitcoin as a payment method […]

Dubai real estate DAMAC rolls out support for Bitcoin payment

Dubai real estate DAMAC rolls out support for Bitcoin payment

TL;DR Breakdown Dubai real estate company, DAMAC, accepts payment in Bitcoin The crypto market in the UAE continues to develop rapidly, with many merchants supporting DAMAC Properties, one of the largest real estate companies in Dubai, announced on Wednesday that it would support cryptocurrency payment for real estate. By accepting crypto, the company intends to […]

Crypto exchange FTX acquires license to establish headquarters in Dubai

Metaverse

TL; DR Breakdown FTX receives permission to establish a headquarters in Dubai Binance has also been permittted to expand its services in Bahrain, Middle East. FTX, a major global cryptocurrency exchange, is expanding its operations in the United Arab Emirates by obtaining a virtual asset license in Dubai. According to the latest reports, a license […]

An NFT sale raises $80K for poor families in Afghanistan

NFT

TL;DR Breakdown  The Pontifex carpet NFT was sold for over $82K.  It was a gift to Pope Francis from the crown prince of the UAE.  80% of the revenue will go towards helping vulnerable families in Afghanistan. In 2016, the Pontifex carpet was gifted to Pope Francis by the Crown Prince of Abu Dhabi during […]

Emirates Post Group discloses first NFT stamp in UAE

Emirates Post Group

TL;DR Breakdown Emirates Post Group is ready to present a unique NFT stamp in UAE. The stamps are also called Crypto stamps and have copies kept in the blockchain. Emirates Post Group (EPG) will unveil a Non-fungible token (NFT) stamp. The firm has gone above board to commemorate State’s Day in style. Thus, the firm […]

Crypto firm partners with police in Dubai to educate investors on crypto fraud

Crypto firm

TL;DR Breakdown Crypto firm and Dubai police partner to end crypto fraud. Dubai police says it is training officers on blockchain and cryptocurrencies. Crypto fraud continues to rise. The Police authority in Dubai has partnered with private crypto firm (BitOasis) in the country towards putting an end to fraud involving cryptocurrencies in the country. Dubai […]

Cryptocurrency trading becomes legal in Dubai

Artifact Labs

TL;DR Breakdown Cryptocurrency trading becomes legal in Dubai after SCA, DWTCA agreement. Dubai steadily becoming a crypt-friendly hub. UAE becoming a world leader in global blockchain adoption. Authorities in the United Arab Emirates (UAE) have approved for cryptocurrency trading to have legal backing in the economic free zone in Dubai. The Dubai World Trade Center […]

Dubai’s crypto growth is increasing – Bittrex

crypto growth

TL;DR Breakdown • The United Arab Emirates prepares to benefit from crypto growth in the market.• Cryptocurrency platform Bittrex seeks to participate in these new crypto adoptions in the UAE. This 2021 has been the best time for crypto growth, which has intensified globally. Dubai is one of the new countries to enter the decentralized […]

Dubai’s IBC Group bolsters Miami 2.0 Blockchain Strategy with $4.8 billion in Bitcoin

blockchain

TL;DR Breakdown Dubai IBC Group is to commit 100,000 BTC to support Miami’s crypto hub vision. This is the largest fund ever pledged by the organization to bolster crypto adoption. Authorities in Miami have been actively working to establish the American city as a cryptocurrency and blockchain-friendly hub in the country. On several occasions, the […]

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