MENA News
Discover the latest blockchain and crypto news from the MENA region, including updates from Dubai, Abu Dhabi, Bahrain, Qatar, and Oman, covering trends, regulations, and developments shaping the industry
In a landmark decision, the Dubai Court of First Instance has made a significant ruling on the payment of salaries in cryptocurrency. This ruling as reported by Lexology , made in 2024, marks a pivotal shift in the UAE’s judicial approach to digital currencies in employment contracts. It sets a new precedent by recognizing the validity of cryptocurrency as a form of remuneration, a notable departure from previous judgments. Case…
Read More »Recently, several media outlets announced that India and the UAE had settled an oil transaction using XRP. However, after contacting Ripple executives, it was confirmed that these reports are inaccurate. An investigation by The Crypto Basic revealed that the oil deal between the two countries was conducted using their local currencies, not XRP. Clarification of the Transaction The transaction in question utilized the XRP ledger system, which rewards users with…
Read More »The DLT Science Foundation is excited to announce that Dubai will host the 10th P2P Financial Systems International Workshop (P2PFISY 2024) on October 16-17, 2024. This landmark event, which celebrates a decade of groundbreaking discussions and research in decentralized finance, will bring together global leaders, regulators, and academics to explore the future of financial systems. The workshop will be held in collaboration with the Virtual Asset Regulatory Authority (VARA), Dubai’s…
Read More »International cryptocurrency exchanges are flocking to Turkey in response to the country’s recent clarification of its regulatory stance on crypto. The Turkish Capital Markets Board (CMB), Turkey’s financial regulatory authority, has reported a surge in applications, with 47 crypto exchanges, including industry giants like Binance, Bitfinex, and OKX, expressing their intention to operate in the country. This wave of interest follows the implementation of the “Law on Amendments to the…
Read More »Ripple has announced a strategic partnership with DIFC Innovation Hub. This collaboration aims to accelerate blockchain and digital assets innovation in the UAE. The partnership will connect developers with the DIFC Innovation Hub, the largest innovation community in the region. This community is home to more than 1,000 tech firms, digital labs, venture capital firms, and educational entities. Boosting Blockchain Adoption The partnership will drive blockchain and crypto adoption among…
Read More »Adaverse proudly announces the release of its inaugural “State of Web3 in Saudi Arabia,” a landmark publication aimed at positioning Saudi Arabia as a prime destination for Web3 entrepreneurs, investors, and talent from around the globe. This comprehensive report provides a detailed analysis of the Kingdom’s rapidly evolving Web3 ecosystem, underscoring its readiness for international players to enter, invest, and launch their ventures in Saudi Arabia. Adaverse Report Highlights Include:…
Read More »The Blockchain Center in Abu Dhabi has been officially unveiled, reflecting the region’s ongoing efforts to foster innovation and growth in the digital transformation ecosystem. This center aims to establish Abu Dhabi as a global leader in blockchain technology and innovation, focusing on creating a thriving ecosystem that supports startups, enterprises, and academic institutions through a range of comprehensive services and initiatives. Evaluating the Role of the Blockchain Center While…
Read More »M2 Exchange, a rapidly growing cryptocurrency platform, has announced a new service that allows UAE residents to buy and sell Bitcoin and Ethereum directly through their bank accounts. This marks a significant step for the platform, positioning it as a formidable contender in the cryptocurrency market. Stefan Kimmel, the CEO of M2 Exchange, explained the timing and reasoning behind this launch. “We had planned to introduce this service earlier, but…
Read More »M2 ADGM, a virtual asset custodian and Multilateral Trading Facility regulated by the Financial Services Regulatory Authority (FSRA) located in the Abu Dhabi Global Market (ADGM), has announced a new integration that allows UAE residents to buy and sell Bitcoin (BTC) and Ethereum (ETH) directly through their bank accounts. This new feature marks a significant milestone in the region’s adoption of virtual assets, making it easier for UAE residents to…
Read More »Aquanow, a prominent player in the cryptocurrency infrastructure sector, has been granted full operational approval by Dubai’s Virtual Asset Regulatory Authority (VARA). This endorsement allows Aquanow to provide a range of services, including Broker-Dealer, Lending and Borrowing, and Management and Investment Services throughout the region. The VARA license represents a crucial step in Aquanow’s global expansion strategy, with the UAE set to play a pivotal role in the company’s growth.…
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