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Abu Dhabi Global Market Unveils New Regulations for Web3 Firms
2.11.2023
Abu Dhabi seeks to beef up its web3 landscape with new guidelines for blockchain-based firms as its crypto hub is projected to grow in the coming months. The Abu Dhabi Global Market (ADGM) announced new rules that create numerous blockchain foundations and how they operate within the jurisdiction...
Zodia Markets Receives In-Principle Approval as Crypto Broker-Dealer in Abu Dhabi
6.9.2023
Zodia Markets, a digital asset marketplace backed by Standard Chartered Ventures, has been granted In-Principle Approval to operate as a crypto broker-dealer in Abu Dabhi
Abu Dhabi grants virtual asset firm M2 permission to offer crypto services
16.8.2023
M2 platform will launch later in 2023, allowing UAE-based retail and institutional clients to buy, sell and custody virtual assets
Crypto Exchange Rain Obtains License to Operate Virtual Asset Brokerage, Custody Service in UAE
25.7.2023
Rain's Abu Dhabi-based entity can now offer institutional clients and some retail clients in the UAE the ability to buy, sell and store virtual assets, Reuters reported
India and UAE Break Away From US Dollar: Landmark Agreement Enables Trade Settlements in Rupees and Dirhams
17.7.2023
In a compelling turn of events this Saturday, India and the United Arab Emirates (UAE) inked a landmark agreement facilitating trade transactions to be settled in their native currencies, rupees and dirhams, instead of relying on the U.S. dollar. India’s prime minister Narendra Modi visited...
Why Crypto Companies Are Warming to the United Arab Emirates
13.7.2023
Crypto Hubs 2023: Where to Live Freely and Work Smart
27.6.2023
With shifting regulatory regimes worldwide, crypto is on the move to find the best locales to put down roots, get licensed, register or just be. Crypto Hubs 2023, our ranking of the top 15 global crypto hubs, is a good place to start
Abu Dhabi: A Wealthy Middle-East Capital Creating a Bridge From TradFi to Crypto
27.6.2023
The heart of crypto in the capital of the United Arab Emirates is actually just offshore in the Abu Dhabi Global Markets, an economic free zone. With a mandate to encourage fintech, the No. 6 spot in CoinDesk’s Crypto Hubs 2023 keeps the lines of communications open between regulators and crypto...
Binance eyes United Arab Emirates as ‘focal point’ for future operations
26.6.2023
Binance Dubai general manager Alex Chehade says there are plenty of good reasons why the UAE will become the world’s next major crypto hub
Large Immersion Cooled Crypto Mining Farms to Extract Bitcoin in Middle East Desert
12.5.2023
A project to build two large-scale facilities for cryptocurrency mining is underway in the United Arab Emirates (UAE). The high-tech data centers will rely on a full immersion solution to cool the power-hungry miners as the desert climate renders air-cooled mining infeasible, participants said....
Bitcoin Miner Marathon Receives Second SEC Subpoena in Connection to Montana Mining Facility Investigation
11.5.2023
Marathon Digital Holdings, a publicly-listed bitcoin mining company, has recently revealed that it was served with a subpoena by the U.S. Securities and Exchange Commission (SEC) in relation to an investigation concerning the firm’s Montana mining facility. The SEC is reportedly looking into...
Bitcoin miner Marathon Digital hit with another SEC subpoena
11.5.2023
The first subpoena was given to Marathon in the third quarter of 2021, concerning whether it may have violated federal securities laws relating to its data center in Hardin
Marathon Teams Up With Abu Dhabi's Zero Two for Middle East's First Large-Scale Liquid Cooled Bitcoin Mining
9.5.2023
The U.S.-based miner is teaming with Zero Two, a digital assets infrastructure development company focused on supporting the power grid of Abu Dhabi
Abu Dhabi's Financial Free Zone Proposes Legal Framework for Decentralized Economy
21.4.2023
The proposals target projects built on distributed ledger technology to provide clarity on governance structures and disclosures
FTX’s $45M Sequoia Sale Cleared, as Embed Divestment Delayed
29.3.2023
A Delaware bankruptcy judge approved the sale of the bankrupt company’s assets to Abu Dhabi’s investment arm
FTX Reaches $45M Deal to Sell Interest in Sequoia to Abu Dhabi's Investment Arm
9.3.2023
The agreement requires approval from a Delaware bankruptcy court as failed exchange seeks to raise funds for creditors
Crypto Seen as Investment Opportunity in the MENA Region Says Iceberg Capital Executive Chairman
7.3.2023
While interest in digital assets has waned in some parts of the world, in the Middle East and Northern Africa adoption of crypto has been skyrocketing according to Mustafa Kheriba, the executive chairman of the asset management firm Iceberg Capital Limited. According to Kheriba, factors such...
Abu Dhabi Starts $2B Initiative to Back Web3 Startups
15.2.2023
The Hub71 + Digital Assets ecosystem will also back companies focusing on blockchain technologies
Egyptian Fintech MNT-Halan Secures $400 Million in Funding, Valuation Rises to Over $1 Billion
4.2.2023
Egyptian fintech MNT-Halan announced on Feb. 1 that it had raised over $340 million via debt and equity and it expects to raise an additional $60 million from leading international investors. The latest funding round sees MNT-Halan’s valuation rise to over $1 billion which reportedly makes...
Report: Egyptian Pound Reaches New Low Against US Dollar Despite Flexible Exchange Rate Regime
16.1.2023
The exchange rate of the Egyptian pound versus the U.S. dollar fell to a new low on Jan. 11 after it tapped 32.14 per greenback. The currency’s latest significant depreciation came just a few months after it adopted a flexible exchange rate regime. According to the International Monetary...