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Binance launches Dubai Escape promotion, offering up to 60,000 FDUSD in token vouchers and a 2,000 FDUSD travel voucher for traders in MENA and South Asia regions. (Read More)
According to the World Bank, less than 50% of adults in the Middle East and North Africa region had access to adequate banking services.
The crypto-friendly country of Dubai is stepping up its approach to marketing virtual asset investments as the citys crypto sector continues to grow. Dubais Virtual Asset Regulatory Authority (VARA) has announced new marketing regulations that will take effect on October 1, 2024. This initiative marks the UAE’s first significant move
Early bird tickets for Binance Blockchain Week Dubai 2024 are now available for $150, offering a 75% discount on the full price. (Read More)
GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s daily recap: Bybit has also received a crypto license in a major region! Here are the latest crypto news stories in the last 24 hours. Market Analysis and Updates Here are the crypto highlights of the day:...
The Virtual Asset Regulatory Authority (VARA) has granted Bybit a non-operational license to serve retail and institutional crypto investors in Dubai.
OneDegree executive Robin Scott told Cointelegraph that the insurance covers Web3 asset managers against the risk of losing customer funds.
The agreement between UAE regulators covers the mutual supervision of crypto providers, penalty imposition, information exchange and employee training.
Dubai's latest ruling marks a significant shift in the legal acceptance of cryptocurrencies, aligning the UAE with global trends in digital finance.
Last year, the same court disregarded a similar case because the plaintiff could not provide the value of the cryptocurrencies.
Dubai Court validates salary payments in cryptocurrency, shifting from prior stance. The employee’s contract in the case in question included both fiat and EcoWatt tokens as payment. The ruling sets a precedent for digital currency adoption in UAE’s financial transactions. In a landmark ruling, the Dubai Court of First Instance has affirmed the validity of […]
The post Dubai Court of First Instance affirms crypto as a validity salary payment method appeared first on CoinJournal.
Bybit extended its DMCC partnership, transitioning to an advisory role from August 2024. Bybit and DMCC to co-organize a global hackathon and a flagship conference. Over 20 startups were supported by Bybit in Dubai’s dynamic crypto ecosystem last year. Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the extension of its strategic […]
The post Bybit and DMCC extend partnership to bolster Dubai’s crypto ecosystem appeared first on CoinJournal.
"Our partnership with the DIFC Innovation Hub promises to drive the adoption of blockchain technology in the region," Ripple's CEO said.
Blockchain Life 2024, one of the world's leading events in web3, cryptocurrencies and mining, today announced the first wave of its esteemed speakers.
The post Blockchain Life 2024 in Dubai Unveils First Speakers appeared first on Crypto Breaking News.
KARM Legal Consultants founder Kokila Alagh said that the regulations clarify the issuance, licensing and supervision of dirham-backed payment tokens.
The changes encompassed several areas, including the ability of both external and domestic funds to invest in crypto tokens.
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
CoinNess Global (@CoinnessGL) June 26, 2024Unsupportedassets 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.
This article was written by Damian Chmiel at www.financemagnates.com.
Binance has announced the dates for its Blockchain Week Dubai 2024 and opened sales for early bird tickets at a significant discount. (Read More)
The firm chose to expand into Abu Dhabi due to the innovation-friendly crypto regulations.
The legendary Blockchain Life 2024 will return for its 13th edition on October 22-23. As Dubai gains a reputation as a global crypto hub, the forum is set to be the central event of this year. With the highly anticipated peak of the crypto market growth still ahead, the forum presents an excellent opportunity for [...]
The post Blockchain Life 2024 to Take Place in Dubai as the Peak of Bull Run is coming appeared first on Crypto Breaking News.
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