Crypto.com gets nod in Dubai and FTX launches in Japan
Crypto.com will have further requirements before its full license is granted in the “near-term” and FTX said the move would allow it to work “directly with Japanese regulators.” Two out of the top 10 largest cryptocurrency exchanges by volume will expand into new markets, with Crypto.com obtaining a provisional crypto license in Dubai and FTX launching in Japan.Crypto.com announced on June 2 that the Dubai Virtual Assets Regulatory Authority (VARA) provided the exchange with provisional approval of its Virtual Asset License giving the company the go-ahead based on initial compliance....
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The crypto world is bustling with momentum. Japan just revamped its Payment Services Act to be ‘crypto-friendly,’ opening the door for more institutional and mainstream adoption across Asia. In Dubai, tokenized real estate pushed sales past $18B in May – proof that on‑chain ownership of physical assets is no longer science fiction. Meanwhile, Bitcoin is […]
A master plan that aims to see the number of Dubai’s blockchain and metaverse companies grow from the current 1,000 to 5,000 in five years, was recently launched by the kingdom’s Crown Prince Sheikh Hamdan. Known as the Dubai Metaverse Strategy, the plan also seeks to create 40,000 jobs and bring in $4 billion to the Dubai economy. Metaverse Contribution to Dubai’s Economy The crown prince of Dubai and chairman of the Dubai Executive Council, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, has launched an ambitious plan to attract 5,000 blockchain and metaverse....
The spot bitcoin ETP will trade on the Nasdaq Dubai exchange and marks 21Shares' entrance into the growing digital asset economy of Dubai.
Cryptocurrency Binance has received another license from Dubai’s crypto regulator. Binance can now provide more crypto-related services in Dubai. Binance’s New License in Dubai Cryptocurrency Binance announced Wednesday that it has received the Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). The announcement details that besides allowing Binance to “open a client money account with a domestic bank,” having an MVP license means: Binance can offer an approved range of virtual asset-related services to suitably....
The rulers of Dubai have created a committee that is mandated with tracking the latest developments in the digital economy. The committee is also expected to bolster the rulers’ quest to make Dubai a “key city in the metaverse.”
Dubai Rulers’ Vision
The Dubai rulers, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum the crown prince and the deputy prime minister, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, reportedly “reviewed vital technology trends in the metaverse and issued directives to form a task force to track the latest....