Dubai Islamic Bank and Cryptocom Unite to Launch Sharia-Compliant Products
Crypto.com has partnered with Dubai Islamic Bank (DIB) to introduce Sharia-compliant products and expand its reach in the United Arab Emirates (UAE). According to a press release, the agreement focuses on launching financial solutions like tokenized Islamic sukuks and real-world asset tokenization. The deal was signed by Crypto.com’s UAE President of Operations, Mohammed Al Hakim, […]
ADGM Navigating Change: Key Proposals in FSRA Consultation Paper No. 11 for Virtual Asset Regulation
The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has released Consultation Paper No. 11 of 2024, outlining proposed changes to its regulatory framework for businesses involved in virtual assets. The paper seeks feedback on potential amendments to the rules governing authorised entities conducting regulated activities related to virtual assets in […]
UAE’s Digital Asset Achievements in 2024: A Year of Leadership and Challenges
In 2024, the UAE reaffirmed its position as a global leader in digital assets. Through groundbreaking regulatory advancements, innovative banking strategies, and licensing expansions for major crypto exchanges, the country showcased its commitment to building a robust digital economy. From stablecoin regulations by the Central Bank to bold initiatives by Zand Bank and VARA’s expanding […]
Greece Seizes 273,000 USDT in Landmark Cryptocurrency Crackdown
Greek authorities have conducted their first-ever cryptocurrency seizure, confiscating 273,000 USDT (Tether) during a criminal investigation in December, as reported by Digital Watch Observatory. The operation, overseen by the Greek European Public Prosecutor’s Office, involved multiple law enforcement agencies, including the Digital Evidence Examination Department. This seizure is part of the ongoing ‘Admiral’ operation, underscoring […]
Turkey’s New AML Rules: Crypto Transactions Over $425 Face Stricter Oversight
In late December 2024, Turkey introduced new cryptocurrency regulations, drawing inspiration from global frameworks such as Europe’s Markets in Crypto Assets (MiCA). A document published in the Official Gazette on December 25 outlines key measures that will take effect on February 25, 2025. Key Regulation Highlights: Transactions exceeding 15,000 Turkish liras (around $425) will require […]
37% of UAE Investors Set to Expand Crypto Investments in 2025
A recent survey by trading and investing platform eToro reveals that 54% of retail investors in the UAE have financial goals as their primary New Year’s resolution for 2025. Among these investors, increasing investments in traditional assets such as stocks, bonds, and commodities is the most common objective, with 40% aiming to expand their exposure. […]
Phoenix Group Faces Major Leadership Transition as Bijan Steps Down
Phoenix Group, a pioneering cryptocurrency, blockchain, and Web3 company, and the first home-grown cryptocurrency firm listed on the Abu Dhabi Securities Exchange (ADX), has announced a significant leadership change. Seyed Mohammad Alizadehfard (Bijan), the company’s CEO, co-founder, and one of its most influential figures, is stepping down from his role. This marks a pivotal moment […]
Cryptocom Names Mohammed Al Hakim as President of UAE Operations
Crypto.com has appointed Mohammed Al Hakim as the new President of its UAE operations, marking a significant milestone for the company’s expansion and diversity efforts in the region. Al Hakim is the first FCC and Emirati national to hold this prestigious role, both within Crypto.com and across the broader cryptocurrency industry. https://t.co/vCNztATkNg is proud to announce Mohammed […]
Morocco Nears Adoption of Legal Framework to Regulate Crypto Assets
The Governor of Bank Al-Maghrib (BAM), Abdellatif Jouahri, has revealed that Morocco is close to adopting a legal framework to regulate crypto-assets, as reported by Morocco World News. This initiative aims to manage crypto-asset usage while fostering financial innovation. During a press conference following BAM’s fourth and final Council meeting of 2024, Jouahri emphasized that […]
US Treasury and UAE Target North Korean Digital Assets Money Laundering Network
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned two individuals and one entity linked to a network that launders millions of dollars in illicit funds generated by Democratic People’s Republic of Korea (DPRK) information technology (IT) workers and cybercrime, all in support of the DPRK government. Lu Huaying and […]