Jordan Approves Framework for Virtual Asset Regulation
The Cabinet of Jordan, under the leadership of Prime Minister Jafar Hassan, has approved the creation of a comprehensive regulatory framework for virtual and digital assets, with plans for implementation within a year. This initiative is part of the country’s broader strategy to align with international standards and strengthen its digital economy. This decision comes […]
UAE SCA Drafts New Regulations for Security Tokens and Robo-Advisors
The UAE Securities and Commodities Authority (SCA) has introduced draft regulations focusing on Security Tokens and Robo-Advisory Services. These drafts aim to establish a solid regulatory framework for tokenized finance and automated investment platforms while ensuring investor protection and market transparency. The SCA invites feedback from stakeholders by February 14, 2025. Bridging Innovation and Regulation […]
Saudi’s Kingdom Holding Remains Cautious on Crypto Despite Surge in MENA Region Adoption
Kingdom Holding, the investment firm of Saudi Arabian Prince Alwaleed Bin Talal, has stated that it will not invest in cryptocurrency in the near future, citing the lack of widespread adoption as a payment method for goods and services. CEO Talal Ibrahim al-Maiman shared this position with Reuters, emphasizing the company’s cautious stance. Prince Alwaleed, […]
GCEX Launches Open API to Enhance Institutional Clients’ Trading and Portfolio Management
GCEX (GCEX Group), a leading regulated digital prime brokerage, has unveiled its Open API, offering institutional and professional clients seamless, real-time access to balances, trades, and positions. As a Virtual Asset Service Provider (VASP) regulated by Dubai’s Virtual Asset Regulatory Authority (VARA), GCEX’s new Open API allows clients to directly integrate with the GCEX Back […]
Sky Links Capital Group Secures Prestigious SCA License in the UAE
Sky Links Capital Group proudly announces a major milestone in its journey with the successful acquisition of the Securities and Commodities Authority (SCA) license in the United Arab Emirates. This achievement represents a significant step in the company’s dedication to delivering innovative financial services while adhering to the highest compliance standards and providing exceptional client […]
Phoenix Group Expands into Africa with Ethiopian Power Deal
Phoenix Group PLC (ADX:PHX), a leading UAE-based tech conglomerate, has announced a significant strategic move into Africa with the acquisition of an 80-megawatt (MW) power purchase agreement (PPA) in Ethiopia. This milestone partnership with Abu Dhabi-based cybersecurity firm Data7 highlights Phoenix Group’s commitment to global diversification and sustainable growth, providing a reliable energy source to […]
UAE Federal Tax Authority Clarifies VAT Treatment for Cryptocurrency Mining
With the rising popularity of cryptocurrencies, the Federal Tax Authority (FTA) of the UAE has clarified the VAT treatment for cryptocurrency mining activities, specifically those using the proof-of-work mechanism. This Public Clarification outlines the VAT implications for mining conducted for personal use and as a service, as well as the recoverability of input tax. Definition […]
Deus X Pay Partners with BCB Group to Enhance Fiat Currency Settlements
Deus X Pay, a regulated provider of institutional stablecoin payment solutions, is excited to announce its strategic partnership with BCB Group, a prominent provider of payment and trading services for the digital asset sector. This collaboration enables instant fiat currency settlements, offering clients faster, more cost-effective, and secure financial transactions. This announcement follows Deus X […]
Matthew White Predicts RWA Tokenization Will Redefine Global Finance in 2025
Matthew White, CEO of Dubai’s Virtual Assets Regulatory Authority (VARA), recently shared his insights on LinkedIn, highlighting the transformative potential of tokenization in reshaping asset ownership and investment opportunities. In his post, White reflected on the growing adoption of virtual assets, noting that over 500 million users globally are holding or investing in these assets. […]
DMCC and REIT Development Launch ‘Crypto Tower’ in Dubai’s Jumeirah Lakes Towers
DMCC and REIT Development have unveiled plans for the landmark ‘Crypto Tower,’ a 17-storey development in Jumeirah Lakes Towers (JLT). Designed to support DMCC’s growing blockchain, DeFi, and Web3 ecosystem, the project strengthens Dubai’s position as a global hub for innovation and advanced technologies. The tower will complement DMCC Crypto Centre’s existing headquarters in Uptown […]