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On Wednesday, March 16, Binance became the second international company after FTX Europe to receive a license to operate in Dubai under the new legislation adopted in the emirate a week before. At the same time, the Chinese cryptocurrency exchange became the first company to receive such a license in Bahrain. Binance is the largest crypto platform in the world. In a press release published on the same day, the company indicated that the new license will allow it to provide its services to a pre-selected number of investors and professionals in the field of finance. The company also intends to help the Dubai authorities in creating a healthy and modern crypto market in the region. Binance will function as part of VARA (Virtual Asset Regulatory Authority) in the first stages of the...

In March 2022, HQMENA Exhibitions held the international conference Crypto Expo Dubai. The event brought together more than 130 participants from all over the world and from different sectors of the industry. Professionals from the field of blockchain and cryptography, ICO, NOT, Play-to-Learn projects and metaverse also took part. <p">The event was held for only two days, from March 16 to 17, but more than 10,000 guests managed to attend it. Compared to the previous Expo conference, the number of participants increased by 50%, and visitors - by 40%. <p">At the exhibition, participants could present their products and services in various ways. Within the framework of the events held in two conference halls, more than 80 different topics for discussion were presented. At the...

FTX Europe, a new branch of FTX international exchange platform, became the first company to receive a license for commercial activity in the cryptocurrency sector in Dubai. The company is going to open a regional headquarters in the Emirate. It became known on Tuesday, March 15. A week before that, the first law regulating the local cryptocurrency market was adopted in Dubai. An independent supervisory authority «Virtual Asser Regulatory Authority» (VARA) was created. According to the statement of the ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, the new regulator will be responsible for the development of a favorable business environment for virtual assets, the creation of favorable regulations, the regulation of licensing and market supervision in general. VФRA...

The world's largest blockchain ecosystem and exchange platform Finance, is negotiating to obtain a license to do business in Dubai. Finance Holdings Ltd. has been striving to expand its presence in the Middle East for a long time and it is Dubai that is considered as the company's permanent base in the region. Despite the global presence, the Chinese company still does not have an international headquarters. The Chinese giant plans to complete the accreditation as soon as possible by registering as a «service provider» on the territory of the Dubai World Trade Center Special Economic Zone (DWTC). Back in December 2021, Finance signed an agreement with the management of DWTC on the development and development of this economic zone as one of the largest crypto hubs on the...

On Wednesday, March 9, Dubai officially published new rules of regulation regarding the local cryptocurrency market. Thus, the UAE has joined countries such as Singapore, the United States, the United Kingdom, El Salvador and a number of others that have paid close attention to the issue of regulating crypto assets in the last couple of years. A new VARA (Virtual Assets Regulatory Authority) has been created. This agency will be responsible for legislative regulation, licensing and management of the cryptocurrency sector. Residents of Dubai who wish to become participants in the cryptocurrency market are now required to register with VARA. This applies to both individuals and businesses. Any company operating in this sector must obtain a license: exchange platforms, organizations...

In the last 10 days, a number of companies in the UAE cryptocurrency market have reported a sharp increase in requests from Europeans to liquidate their virtual savings. We are talking about the withdrawal of billions of US dollars from accounts. A large number of Europeans immediately invest their withdrawn funds in UAE real estate. Lots of clients convert virtual assets into hard currency without a specific strategy. Their main desire is to hide their savings anywhere where there is no risk of freezing them due to sanctions imposed against the European economy and elected Europeans by the United States, Europe and a number of other countries. This is especially true for European crypto accounts located in Switzerland. Recently, one of the crypto platforms in the UAE received a number...