UAE 'Virtual Currency' Restrictions Cast Uncertain Shadow on Bitcoin
While the world waits to see how the People’s Bank of China moves to regulate bitcoin and digital currencies, another central bank is quietly putting its own rules in place. The Central Bank of the United Arab Emirates (UAE) released a new regulatory framework earlier this month, aimed at providing a basis for the development of a new digital payments ecosystem as part of a broader modernization drive. The framework, published on 1st January, applies to companies that offer withdrawals and deposits to payment accounts, debit and credit services (both retail and government), remittances and....
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Hong Kong’s aspiration to become a global virtual asset hub has suffered a significant setback with the unraveling of the JPEX scandal. This controversy has not only shaken investor confidence in cryptocurrencies but has also cast a pall over the city’s ambitions in the digital asset arena. Established in 2021, JPEX had targeted retail investors […]
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