Crypto Boom In The Gulf: Dubai, Abu Dhabi Fast Becoming Hotbed Of Digital Cur...
In response to the global cryptocurrency boom, the United Arab Emirates has become a hub for the industry as a result of its crypto-friendly legislation, which have made it a favorite destination for digital currency aficionados. Dubai and Abu Dhabi are vying for cryptocurrency supremacy. Large exchanges, like FTX, which was last valued at $32 […]
Related News
The UAE Ministry of Economy continues its push into the Metaverse with the announcement of a "third address" located in a virtual world. The United Arab Emirates (UAE) Ministry of Economy has announced a new headquarters located where anyone in the world can visit — the Metaverse. According to Gulf News, the announcement was made on Sept. 28 by UAE Minister of Economy Abdulla bin Touq Al Marri during the Dubai Metaverse Assembly, with the minister stating “this is not a proof of concept, this is our third address” before giving a live tour of the virtual headquarters.The headquarters will....
A man accused of stealing bitcoin from three individual victims has been arrested by police in Dubai, in a case that is the first of its kind to be investigated and solved in the region. The accused, who is not a Gulf national, defrauded three Gulf citizens by purporting to be bitcoin buyer interested in purchasing the cryptocurrency at a price higher than the market value of the cryptocurrency, Dubai police revealed. As reported by local news outlet 7Days, the alleged conman set up an Instagram page to put up an affluent front while being unemployed in actuality. Striking up a....
Months after rolling out its first collection of non-fungible tokens (NFTs), the Dubai Police has said it will launch the next collection at the 2022 edition of The Gulf Information Technology Expo (GITEX). People from outside the country will also get a chance to own the next Dubai Police NFT collection. First Government Entity in UAE to Mint NFTs Dubai Police is set to roll out its next collection of non-fungible tokens (NFT) just months after the initial collection saw nearly 23 million people show an interest in acquiring them, a report has said. According to the report, the law....
Notably, Gulf countries have joined the list of crypto-favored regimes. And Dubai appeared as a leading crypto hub currently working on multiple projects to support the blockchain infrastructure and web 3 technology. As a result of which, it attracted many crypto companies worldwide to join the emerging market. Similarly, blockchain.com, a cryptocurrency exchange and financial […]
A major securities exchange in Abu Dhabi has announced the launch of a blockchain-enabled voting service. According to The Abu Dhabi Securities Exchange (ADX), the service enables stakeholders to both participate in and observe votes held during annual general meetings (AGMs). The offering focuses on a use case that has spurred both private and public sector interest in the past. The exchange, founded in 2000, said last week that it would showcase the project during the GITEX Tech Week, an Abu Dhabi-based technology conference that began yesterday. When announcing the service, ADX invoked....