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UAE
UAE Welcomes Digital Assets as Ripple Wins in Singapore
Blockchain firm Ripple announced that it has obtained in-principle approval for a Major Payments Institution License from the Monetary Authority of Singapore (MAS), the nation’s central bank and regulator. Host Megha Chaddah discusses the latest expansion of the firm and the state of crypto in the UAE. Those stories and other news shaping the cryptocurrency world are in this episode of "Forkast IQ."
Ripple Executive on Crypto Regulation in Middle East VS. U.S.
Ripple is announcing plans to expand into Dubai. Navin Gupta, Ripple's Managing Director of South Asia and MENA, discusses how crypto regulation in the UAE impacted its decision. Plus, he compares the U.S. regulatory environment to the UAE, saying, "it's night and day."
Coinbase CEO Leaves Door Open to Relocating
Coinbase (COIN) CEO Brian Armstrong indicated that the crypto exchange would consider moving away from the U.S. if the regulatory environment for the industry does not become clearer. Separately, crypto exchange Luno is withdrawing from Singapore while the UAE's securities regulator is starting to accept license applications from crypto firms. "The Hash" panel discusses the global crypto shuffle.
UAE Securities Regulator to Start Accepting License Applications From Crypto Firms
The mandatory licensing regime applies to all companies seeking to provide services in the country, unless they are already licensed in financial free zones in the United Arab Emirates.
UAE Unveils CBDC Strategy, First Phase to Be Completed by Mid-2024
The first phase of the Digital Dirham is expected to be completed over the next 12 to 15 months.
India and UAE to Collaborate on Developing Digital Currencies
The countries will see if their central bank digital currencies will be interoperable.
Banking Crisis in U.S. Likely to Push Crypto Firms Offshore
Switzerland, Lichtenstein and island jurisdictions are among the potential benefactors of the trend.
Abu Dhabi Starts $2B Initiative to Back Web3 Startups
The Hub71 + Digital Assets ecosystem will also back companies focusing on blockchain technologies.
UAE Plans to Issue a CBDC to Promote Digital Payments
The deployment of a digital dirham is one of nine key initiatives of the UAE's new Financial Infrastructure Transformation Program.
Dubai Mandates Licensing for Crypto Companies as It Sets Out Regulatory Requirements
A new set of rulebooks from the Virtual Assets Regulatory Authority lays out requirements for crypto firms covering everything from issuance and exchange services to advertising.
