UAE Interior Ministry and FSRA Partner to Combat Virtual Assets-Related Crime

December 21, 2024 Bitcoin.com

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The United Arab Emirates’ Interior Ministry has signed a memorandum of understanding with the Financial Services Regulatory Authority to combat virtual assets-related crime. Strengthening Risk Mitigation Frameworks The United Arab Emirates (UAE)’s Interior Ministry has signed a memorandum of understanding with the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) to […]

Despite Bitcoin’s 10% Drop, Over M in Old Coins Find New Homes

Despite Bitcoin’s 10% Drop, Over $20M in Old Coins Find New Homes

Beam Foundation to debut $150M gaming fund in Abu Dhabi

December 11, 2024 Coin Telegraph

abu dhabi

Beam Ventures will launch in 2025, providing funding and acceleration for blockchain gaming startups in the United Arab Emirates.

The Beam Foundation has disclosed plans for an upcoming venture fund in Abu Dhabi targeting blockchain gaming projects.

According to a Dec. 11 announcement, the fund will launch in the first half of 2025 and manage $150 million in capital backed by local investors.

The fund’s investment thesis is primarily focused on blockchain-based games and gaming infrastructure, but capital will also be deployed for startups working on solutions tied to artificial intelligence, augmented reality and user-generated content.

Despite Bitcoin’s 10% Drop, Over $20M in Old Coins Find New Homes

UAE and Saudi Arabia Deepen Ties With Russia Amid Global Shifts

October 30, 2024 Bitcoin.com

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The United Arab Emirates (UAE) and Saudi Arabia are bolstering strategic ties with Russia, with the UAE seeking a partnership and Saudi Arabia enhancing diplomatic collaboration for regional stability. UAE and Saudi Arabia Strengthen Strategic Ties with Russia During a meeting in Dubai, UAE President Sheikh Mohamed bin Zayed Al Nahyan emphasized his intent to […]

Despite Bitcoin’s 10% Drop, Over $20M in Old Coins Find New Homes

$35,000,000,000 Hedge Fund Brevan Howard Eyeing One Country for Its ‘Sensible’ Crypto Regulations: Report

October 22, 2024 The Daily Hodl

crypto

An executive from hedge fund Brevan Howard says that the United Arab Emirates’ (UAE) sensible approach to crypto regulations is making the country a top region for digital asset trading. According to a new report from Reuters, $35 billion hedge fund Brevan Howard group head of compliance Ryan Taylor told the AIM Conference in Dubai […]

The post $35,000,000,000 Hedge Fund Brevan Howard Eyeing One Country for Its ‘Sensible’ Crypto Regulations: Report appeared first on The Daily Hodl.

Despite Bitcoin’s 10% Drop, Over $20M in Old Coins Find New Homes

US lagging behind in global stablecoin adoption — Chainalysis

October 17, 2024 Coin Telegraph

Bitcoin

Growing demand for US dollar-backed stablecoins and regulatory uncertainty in the US are the key reasons for stablecoins thriving in other jurisdictions.

The United States has seen record Bitcoin activity since the launch of spot BTC exchange-traded funds (ETFs). However, stablecoin adoption in the US has slowed in 2024 compared to global markets, according to an Oct. 17 report from Chainalysis.

US markets have recorded a significant shift in stablecoin activity this year, with the share of stablecoin transactions on US-regulated exchanges dropping from roughly 50% in 2023 to below 40% in 2024.

In contrast, the share of stablecoin transactions on non-US regulated platforms has surged since 2023, breaking 60% in 2024, according to Chainalysis’ latest report on crypto adoption trends in North America.

Despite Bitcoin’s 10% Drop, Over $20M in Old Coins Find New Homes

Brazil Pushes BRICS to Shift From US Dollar, Advocating National Currencies in Global Trade

October 17, 2024 Bitcoin.com

bitcoin.com

Brazil pushes for a shift away from the U.S. dollar within the BRICS alliance, advocating for more use of national currencies in trade among member countries. As the group expands, discussions on alternative payment platforms are gaining momentum ahead of the BRICS summit in Kazan. Brazil aims to advance this initiative during its 2025 chairmanship, […]

Despite Bitcoin’s 10% Drop, Over $20M in Old Coins Find New Homes

AED Stablecoin Gets Green Light From UAE Central Bank

October 15, 2024 Bitcoin.com

AED

AED Stablecoin LLC has received approval from the Central Bank of the United Arab Emirates (UAE) to launch its stablecoin, AE Coin. This makes AED Stablecoin the first entity in the UAE to issue stablecoins, aligning with the government’s digital strategy. AE Coin is a fiat-backed stablecoin, meaning each coin is backed by the AED […]

Despite Bitcoin’s 10% Drop, Over $20M in Old Coins Find New Homes

UAE Eliminates Value-Added Tax From Crypto Transactions in New Regulation Amendment

October 8, 2024 The Daily Hodl

crypto

Cryptocurrency transactions in the United Arab Emirates (UAE) will be exempt from value-added tax (VAT) starting next month, according to accounting giant PricewaterhouseCoopers (PwC). The accounting giant says the UAE’s Federal Tax Authority (FTA) published amendments earlier this month exempting crypto transfers from VAT charges. “Additional services are exempt from VAT: The management of investment […]

The post UAE Eliminates Value-Added Tax From Crypto Transactions in New Regulation Amendment appeared first on The Daily Hodl.

Despite Bitcoin’s 10% Drop, Over $20M in Old Coins Find New Homes

UAE Introduces Retroactive VAT Exemptions for Crypto Transactions

October 7, 2024 Bitcoin.com

Bitcoin

The United Arab Emirates has introduced VAT amendments that impact crypto transactions, redefining tax obligations for companies in the digital asset space. Under the new rules, businesses dealing with cryptocurrencies and other digital assets must carefully evaluate their tax positions, especially as some provisions retroactively affect transactions since 2018. UAE’s VAT Amendments Introduce Retroactive Tax […]

Despite Bitcoin’s 10% Drop, Over $20M in Old Coins Find New Homes

BRICS Eyes Petroyuan for Oil Trade Amid Dedollarization Push, Expert Says

September 26, 2024 Bitcoin.com

bitcoin.com

BRICS nations are considering adopting the petroyuan for oil trade as part of their ongoing dedollarization efforts, according to economic expert Herbert Poenisch. He noted the BRICS group may discuss alternatives to the petrodollar at their Kazan summit. He highlighted Saudi Arabia’s potential shift towards the petroyuan and Russia’s plans to reduce dollar reliance. However, […]

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