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
Etihad Credit Insurance (ECI), the UAE’s federal export credit company, has become the first insurance sector entity to join the KYC Blockchain Platform, an initiative led by the Dubai Department of Economy and Tourism (DET). This milestone aims to enhance ease of doing business, improve KYC compliance, and elevate customer data quality while fostering the platform’s growth as a trusted digital ecosystem. Her Excellency Raja Al Mazrouei, CEO of ECI,…
Read More »Klickl, a UAE-based Web3 financial platform, has announced a strategic partnership with IMKAN Properties, a leading real estate developer in Abu Dhabi, to facilitate property purchases through cryptocurrency payments. The collaboration aims to transform real estate transactions by introducing an innovative financial model that enhances accessibility for both regional and international buyers. By integrating Klickl’s cryptocurrency payment processing system, IMKAN seeks to offer secure, efficient, and flexible payment solutions, catering…
Read More »The Central Bank of Bahrain (CBB) has officially granted Fasset Financial Services a licence to offer crypto-asset trading services within the kingdom, which marks another step forward in Bahrain’s efforts to establish itself as a leader in the fintech and digital asset space. Abdulla Haji, Director of the Licensing Directorate at CBB, expressed the bank’s commitment to fostering a strong regulatory framework for digital assets. “We are pleased to announce…
Read More »The Cabinet of Jordan, under the leadership of Prime Minister Jafar Hassan, has approved the creation of a comprehensive regulatory framework for virtual and digital assets, with plans for implementation within a year. This initiative is part of the country’s broader strategy to align with international standards and strengthen its digital economy. This decision comes in response to directives from His Majesty King Abdullah II and His Royal Highness Crown…
Read More »The UAE Securities and Commodities Authority (SCA) has introduced draft regulations focusing on Security Tokens and Robo-Advisory Services. These drafts aim to establish a solid regulatory framework for tokenized finance and automated investment platforms while ensuring investor protection and market transparency. The SCA invites feedback from stakeholders by February 14, 2025. Bridging Innovation and Regulation With the rapid evolution of financial technologies, the UAE continues to lead the charge in…
Read More »Kingdom Holding, the investment firm of Saudi Arabian Prince Alwaleed Bin Talal, has stated that it will not invest in cryptocurrency in the near future, citing the lack of widespread adoption as a payment method for goods and services. CEO Talal Ibrahim al-Maiman shared this position with Reuters, emphasizing the company’s cautious stance. Prince Alwaleed, a senior member of the Saudi royal family known for his Warren Buffett-inspired value investing…
Read More »GCEX (GCEX Group), a leading regulated digital prime brokerage, has unveiled its Open API, offering institutional and professional clients seamless, real-time access to balances, trades, and positions. As a Virtual Asset Service Provider (VASP) regulated by Dubai’s Virtual Asset Regulatory Authority (VARA), GCEX’s new Open API allows clients to directly integrate with the GCEX Back Office, streamlining portfolio management and regulatory reporting. This development enhances operational efficiency by automating manual…
Read More »Sky Links Capital Group proudly announces a major milestone in its journey with the successful acquisition of the Securities and Commodities Authority (SCA) license in the United Arab Emirates. This achievement represents a significant step in the company’s dedication to delivering innovative financial services while adhering to the highest compliance standards and providing exceptional client experiences in the region. Sky Links Capital is a fast-growing brand in the multi-asset brokerage…
Read More »Phoenix Group PLC (ADX:PHX), a leading UAE-based tech conglomerate, has announced a significant strategic move into Africa with the acquisition of an 80-megawatt (MW) power purchase agreement (PPA) in Ethiopia. This milestone partnership with Abu Dhabi-based cybersecurity firm Data7 highlights Phoenix Group’s commitment to global diversification and sustainable growth, providing a reliable energy source to support its long-term objectives and advancing responsible digital asset infrastructure development. Boosting Mining Capacity and…
Read More »With the rising popularity of cryptocurrencies, the Federal Tax Authority (FTA) of the UAE has clarified the VAT treatment for cryptocurrency mining activities, specifically those using the proof-of-work mechanism. This Public Clarification outlines the VAT implications for mining conducted for personal use and as a service, as well as the recoverability of input tax. Earlier, in October 2024, The UAE has amended its VAT Executive Regulation, introducing new rules that…
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