Dubai Establishes Gov’t Backed ‘Blockchain Council’
Currently, there’s a strong effort to establish blockchain technology within the Middle East. On February 17, the Dubai Museum of the Future Foundation disclosed to the public the initiation of a “Blockchain Council” that will focus research and development on this emerging technology. The Dubai government has released information on the exploration of....
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The Sheikh said the regulator will have authority in Dubai's special development zones and free zones with the exception of the Dubai International Financial Centre. Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai in the United Arab Emirates who holds several positions including prime minister, has announced a new law on virtual assets as well as the establishment of a crypto regulator.In a Wednesday announcement, Sheikh Al Maktoum said he had issued a law creating a legal framework for crypto in the Emirate of Dubai aimed at protecting investors and “designing much-warranted....
Dubai has adopted its first law to regulate the crypto sector. It has also established a dedicated regulator to oversee crypto activities and related service providers. Crypto Sector Regulated in Dubai The emirate of Dubai has adopted its first law to regulate crypto assets and established a regulator to oversee crypto activities and regulate crypto service providers. The official Twitter account for Sheikh Mohammed bin Rashid Al Maktoum announced Wednesday that the first virtual assets law has been approved in Dubai and the Dubai Virtual Assets Regulatory Authority (VARA) has been....
Dubai is set to play host to a conference on digital currencies later this month, an event that comes several months after a government-backed blockchain effort was first unveiled. Hosted at the Burj Al Arab hotel, the one-day Keynote Conference event on 30th May will feature speakers from both the global bitcoin and blockchain ecosystems. The event is being sponsored by an innovation center originally founded by the ruler of Dubai as part of a broader effort to modernize the region. Among those set to appear from the region include Dr. Aisha Bin Bishr, director general of Smart Dubai, a....
The Smart Dubai Office, a government-backed initiative led by the Crown Prince of Dubai has partnered a FinTech specialist firm to implement a citywide payments platform based on blockchain technology. The government initiative has entered a memorandum of understanding (MoU) with FinTech consulting and development firm Avanza Solutions, signed in the presence of Hamdan bin Mohammed, the hereditary Prince to the crown of Dubai. Announced by Avanza quietly last week, the sweeping citywide project planned by the Smart Dubai Office will see a rollout of the blockchain payments platform to all....
The Dubai Future Foundation has decided to promote the Blockchain technology following its Global Blockchain Council quarterly meeting. Thus, Blockchain technology, along with other seven new innovation-based pilot projects, finds its way into the mainstream of the United Arab Emirate as well as the Middle East. Touted as a leading regional technology hub given its position as a platform for top tier international tech companies - based on its advanced infrastructure and its attractive business environment - and a stage for global technology-oriented events, the adopted projects will....