Middle East accounts for 7.5% of global crypto volume Chainalysis

According to the World Bank, less than 50% of adults in the Middle East and North Africa region had access to adequate banking services.

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IOTA Token Achieves Sharia Compliance, Certified by Cambridge Institute

IOTA Token has been certified as Sharia-compliant by the Cambridge Institute of Islamic Finance, enhancing trust and growth in the Middle East. (Read More)

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Tether (USDT) Commits $3M to Kem for Financial Inclusion in the Middle East

Tether invests $3 million in Kem to boost financial inclusion and USD adoption in the Middle East, targeting improved economic conditions and access to financial services. (Read More)

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CoinDCX crypto exchange acquires BitOasis, expands into MENA region

CoinDCXs acquisition of BitOasis opens new opportunities in the Middle East and ensures regulated and secure trading.

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Animoca Brands plans return to stock market by 2025

Animoca Brands is considering a public market return after four years of delisting in Australia, eyeing more receptive jurisdictions like Hong Kong and the Middle East.

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Red Sea Global Implements Oracle OPERA Cloud for Enhanced Hospitality Services

Red Sea Global adopts Oracle OPERA Cloud Central to streamline its hotel operations, enhancing guest services across its Middle Eastern properties. (Read More)

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Binance's Regulatory Pivot: UAE Users to Migrate to VARA-Licensed Platform

Binance hasannounced a significant transition for its United Arab Emirates (UAE) users.Following the receipt of a full Virtual Asset Service Provider (VASP) licensefrom Dubai's Virtual Assets Regulatory Authority (VARA), Binance will migrateall UAE resident accounts from its global platform to the locally regulatedBinance FZE exchange (Binance Dubai).

UAE Residents toTransition from Binance Global to Binance Dubai

Thetransition process, set to begin today (Wednesday), will require UAE residentsto update their Know Your Customer (KYC) information by December 15, 2024.Users will be contacted via email with instructions on submitting the necessarydocumentation.

During thetransition period, UAE users can continue to access their existing BinanceGlobal accounts and services. After December 15, accounts will be automaticallymoved to Binance Dubai, with login credentials and user IDs remainingunchanged.

Binance FZEwill offer a range of services, including exchange, broker-dealer, lending andborrowing, and virtual asset management and investment services. The platformwill support over 300 virtual assets and provide access to local fiat currency(AED) deposits and withdrawals.

Binance guides UAE users to transition accounts to VARA-regulated Binance FZECrypto exchange Binance has announced on its official website that all UAE residents will transition their accounts from the Binance Global Exchange to the Binance FZE exchange, regulated by the Dubai

Unsupportedassets will be liquidated by the KYC deadline before eligible users aremigrated to the Binance Dubai regulated platform. The exact date of liquidationmay vary from asset to asset as liquidation may take place near the deadline,Binance commented.

Users withboth Binance.com and Binance Dubai accounts will need to choose which accountto maintain, as Binance FZE will not allow multiple accounts per user. Thosewho do not complete the KYC process by the deadline will have their accountsrestricted to withdrawal-only mode.

Toincentivize early compliance, Binance is offering a promotion for users whocomplete their KYC updates before October 30, 2024. Participants will beentered into a prize draw with a total reward pool of $500,000 in Bitcoin,including a grand prize of 1 BTC.

Binance Dubai ExpandServices

Themovement described above is possible thanks to the decision made in April, whenBinance Dubai received a VASP license from VARA. This development comes nearlya year after Binance entered the third stage of Dubai's four-stage regulatoryprocess.

As FinanceMagnates reported in June last year, Binance decided to focus on the MiddleEast due to regulatory pressures in Western markets. For instance, Binance hadto deregister in the UK, and also leave the Netherlands and Cyprus.

Moreproblems in Europe emerged today with the implementation of regulationsconcerning stablecoins as part of the European MiCA initiative. Due to theseregulations, Binance will have to restrict access to a range of services basedon "unauthorized stablecoins" and suspend its copy trading service.

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Nvidia launches in Middle East amid US AI export clampdown: Report

Nvidia partners with Qatari telecom provider Ooredoo to bring advanced AI technology to the Middle East, marking a significant expansion amid U.S. export restrictions.

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Chainalysis sets up regional HQ in Dubai amid local crypto boom

Chainalysis relocates its regional headquarters to Dubai, reflecting the UAEs progressive stance toward blockchain technology.

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Best New Meme Coins to Buy for 2025: Arctic Pablo, Neiro, Turbo

Discover Arctic Pablo Coins thrilling presale, Neiros breakthrough, and Turbos big news. Find out why Arctic Pablo is one of the best new meme coins to buy for 2025.

The post Best New Meme Coins to Buy for 2025: Arctic Pablo, Neiro, Turbo appeared first on Kanalcoin.

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Slept On Popcats Early Boom? Arctic Pablo Coin Could Be Your Ultimate Redemption

In the world of meme coins, every cycle births a fresh legend. Popcat was that story not too long agoa quirky token that turned early believers into overnight success stories. When Popcat first dropped into the crypto scene, its starting price was laughably tiny, floating around fractions of a cent. Fast-forward to its meteoric rise, and those early wallets swelled beyond imagination. It was the perfect example of how meme coins can turn small investments into jaw-dropping windfalls.

The post Slept On Popcat’s Early Boom? Arctic Pablo Coin Could Be Your Ultimate Redemption appeared first on Kanalcoin.

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Top Meme Coins to Invest in Now APC, Dogwifhat, Bonk

Discover the top meme coins to invest in now, including Arctic Pablo Coin, Dogwifhat, and Bonk. Explore meme coin presale updates and latest trends.

The post Top Meme Coins to Invest in Now APC, Dogwifhat, Bonk appeared first on Kanalcoin.

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Bitcoin Drops As Iran Launches Missile Attack On Israel What We Know So Far

The price of Bitcoin took a nose dive on Saturday following reports of Iran launching missile and drone attacks on Israel. Alongside the market leader, many other prominent cryptocurrencies also experienced a significant selloff as news of a brewing international conflict in the Middle East circulated on the internet. Related Reading: Bitcoin Halving: A Tale Of 2 Emotions Will FOMO Or FUD Rule The Market? Bitcoin Suffers Major Decline For Second Consecutive Day According to multiple reports on April 13, Iran commenced a drone attack against Israel in retaliation to an attack on an Iranian diplomatic building in Syria on April 1 which claimed the lives of nine Iranian officers, including a highly ranked general in Iran’s Islamic Revolutionary Guards. This incident marked Irans first-ever direct assault on the Jewish state following years of rising political tensions between both countries. With the Iranian forces confirming further missile attacks on specific targets in Israel, it is likely that both nations may be heading for a full-scale war. Following reports of the drone attacks in the Middle East, Bitcoins price dropped by 8.07%, falling from $67,132.1 to $61,710.58, reflecting a high selling pressure. Interestingly, this price action marked the second consecutive day the maiden cryptocurrency suffered a significant loss following a 5% decline on Friday amidst minor turbulence in the US stock markets. Generally, Bitcoin has shown an underwhelming performance in the past weeks, recording a 12.51% loss in the last month based on data from CoinMarketCap. The maiden cryptocurrency has struggled to replicate its bullish form seen at the beginning of 2024 when it achieved a new all time high price of $73,750.07. However, with the Halving event fast approaching, BTC investors are likely optimistic about a potentially massive price gain in the coming months based on historical price data.  Currently, Bitcoin trades at $63,943, showing a 3.61% gain from its earlier slump on Saturday. In tandem, the tokens daily trading volume is up by 22.46% and valued at $57.37 billion. Bitcoin trading at $63,971 on the daily chart | Source: BTCUSDT chart on Tradingview.com Related Reading: Waiting For The Bitcoin Bull Run To Resume? Heres The Indicator To Watch For Altcoins Not Spared From Market Crash Alongside Bitcoin, the price of altcoins also decreased significantly due to the escalated geopolitical tension in the Middle East. Ethereum, the most popular altcoin and second largest cryptocurrency, suffered a loss of 10.89%, falling as low as $2,880.16 Meanwhile, other prominent tokens such as Solana (SOL), XRP, and Avalanche (AVAX) also recorded price dips to the tune of 12.68%,18.11%, and 16.00%, respectively. Generally, the total crypto market cap declined by 7.78%, falling to around $2.2 trillion. Featured image from Shutterstock, chart from Tradingview

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After 5 Years of Effort Rain Joins Growing Crypto Market in the Middle East

The Middle East is becoming an increasingly attractive location for a growing number of cryptocurrency exchanges. After Binance obtained authorization from the regulator in Abu Dhabi in November 2022, more companies have begun appearing in the local market. The latest is Rain Trading Limited, which has received the Financial Services Permission (FSP) issued by the Abu Dhabi Global Market's (ADGM) Financial Services Regulatory Authority.

Rain Joins Licensed Firms in Abu Dhabi

Abu Dhabi and Dubai are among the most populated of the seven administrative regions in the United Arab Emirates (UAE). Both jurisdictions issue separate permits for providing financial services, and while Dubai has recently seemed more popular, Abu Dhabi is also not lagging behind the rising popularity of the cryptocurrency trend in the Middle East.

Rain announced yesterday (Tuesday) that it had obtained permission to provide brokerage and custody services in the digital asset market. It has also partnered with a local bank to settle client deposits in accordance with local regulations.

Rain Trading Limited (Rain ADGM) has been granted the first Financial Services Permission (FSP) by Abu Dhabi Global Market’s Financial Services Regulatory Authority to operate a virtual assets brokerage and custody service. pic.twitter.com/EyxCj4HbNy

Rain's CEO, Joseph Dallago, stated that the fight to get the license lasted for five years. Rain was one of the first companies to apply for authorization in 2018 when ADGM presented its virtual asset framework.

Today, Rain is launching in the UAE, as the first licensed retail exchange. This is a 5 year effort, as we were one of the first exchanges to enquire about licensure back in 2018, when the ADGM released their virtual asset framework.

"UAE residents will now be able to fund their accounts in minutes, thanks to a partnership with a local UAE bank. Furthermore, customers are further protected through the supervision of a local regulator and thorough legal framework," Dallago added.

As mentioned earlier, Binance has been operating in the local market since November of last year. Previously, it received in-principle approval to provide its services. In addition to Abu Dhabi, many exchanges are opening up to the UAE through Dubai, where the Virtual Assets Regulatory Authority (VARA) licenses are issued. Recently, Bitget, ByBit, and OKX have all received authorization in the emirate.

For Binance, the Middle East is becoming an important jurisdiction, especially in light of regulatory issues in the United States and around the world. According to Alexa Chehade, the General Manager of Binance Dubai, the UAE could become the primary target for cryptocurrency firms seeking favorable and transparent regulations.

The Middle East Becomes a Crypto Hub

According to data related to the adoption of cryptocurrencies in the Middle East and North Africa, this region is the fastest-growing area in the cryptocurrency industry, accounting for 9.2% of global transactions in 2021-2022. In the UAE alone, a staggering increase in the number of registered cryptocurrency companies of 400% was noted over two years.

At the same time, the region has seen an increase of threefold in the number of educational programs related to blockchain, contributing to an 8% rate of hash mining. All these factors have led to an increasing number of exchanges deciding to enter the local market and set up their offices in Dubai or Abu Dhabi.

Furthermore, the local market has tremendous potential in terms of the number of retail investors. This is confirmed by FX/CFD market data, where the number of investors is constantly growing despite a global downturn.

In addition, according to Binance MENA statistics, the majority of cryptocurrency holders currently live in the UAE. This represents 28% of all residents of the UAE, meaning that one in four people in the country own cryptocurrencies.

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Russian President Vladimir Putin States Emergent Multipolar World Order Will Be ‘More Just’

In a recent article, Vladimir Putin, President of the Russian Federation, outlined his thoughts about the emergence of a new multipolar world order. Putin explained this new configuration will allow different regions, including Africa, the Middle East, and Latam, to assume their roles in a new “more just and democratic” world order. Russian President Vladimir [...]

The post Russian President Vladimir Putin States Emergent Multipolar World Order Will Be ‘More Just’ appeared first on Crypto Breaking News.

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Abu Dhabi regulator grants trading firm Rain permission to offer crypto services

The Abu Dhabi Global Market Financial Services Regulatory Authority has granted its Financial Services Permission for cryptocurrency firm Rain to offer brokerage and custody services to residents.  In a July 25 announcement, Rain said the regulatory approval will allow certain United Arab Emirates-based institutional and retail users to “buy, sell, trade, and store virtual assets” [...]

The post Abu Dhabi regulator grants trading firm Rain permission to offer crypto services appeared first on Crypto Breaking News.

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Tel Aviv Stock Exchange’s crypto trading proposal a ‘closed-loop system’

Israeli crypto users will soon have a new means of regulated crypto trading, but the local ecosystem is not convinced that this is what the crypto industry needs.

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Kraken Closes Abu Dhabi Office

Less than a year after receiving regulatory licence to operate in Abu Dhabi's international financial hub and worldwide market, Kraken is departing. (Read More)

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Middle East, Asia and Africa blockchain association launches in Abu Dhabi

A new blockchain body has been launched with the backing of industry leaders in the Middle East region including figures from Binance, Crypto.com and the largest crypto exchange in the region.

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FTX Launches in Dubai as the First Licensed Crypto Exchange in UAE

Popular cryptocurrency exchange FTX announced the launch of its operations in the United Arab Emirates (UAE) on Oct. 31.

Continue reading FTX Launches in Dubai as the First Licensed Crypto Exchange in UAE at DailyCoin.com.

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