2020-11-10 00:14 |
The financial center in one of Dubai’s free-trade zones acts as an independent regulator with its own judicial system
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M2, a UAE-based crypto exchange, experienced a significant security breach that resulted in the loss of $13. 7 million in digital assets. In a Nov. 1 statement, the exchange disclosed that the incident occurred on Oct.
The United Arab Emirates (UAE) has announced an exemption of many crypto-related activities from its 5% Value-Added Tax (VAT).
The United Arab Emirates (UAE) has exempted crypto transactions from the country’s 5% value-added tax (VAT). This exemption is part of an amendment to the Executive Regulation of the Federal Decree Law on VAT.
Ripple announced the in-principle license from the Dubai Financial Services Authority (DFSA) on Tuesday, Oct. 1. DFSA’s approval could see Ripple unlock its end-to-end payment services in the UAE as well as boost overall Middle East presence.
Tether will launch a Dirham-pegged stablecoin in collaboration with Phoenix Group. New stablecoin will join USDT, EURT and other Tether-issued stablecoins. Tether plans to add a new stablecoin pegged to the United Arab Emirates’ Dirham to its suite of stablecoins, according to an announcement on Aug.
Gate Ventures, the venture capital arm of Gate. io exchange, has partnered with Abu Dhabi’s Blockchain Center to launch Falcon Gate, a $100 million Web3 innovation fund, according to a statement shared with CryptoSlate.
RAKBANK partners with Bitpanda to create a digital asset management platform. The digital asset management platform awaits approval from the Central Bank of the UAE. UAE’s crypto adoption continues to grow with new regulations and direct bank transactions.