Major cryptocurrency trading platform Huobi continues expanding its global presence by securing new licenses in New Zealand and the United Arab Emirates. On Friday, Huobi Group obtained the Innovation License under the Dubai International Financial Centre (DIFC), securing the company’s first-ever license there. The DIFC license is not a trading license but rather authorizes Huobi to incentivize technology startups to set up operations in Dubai, Huobi Group chief financial officer Lily Zhang told Cointelegraph on Monday. The license unlocks a number of benefits like access to the local tech ecosystem and preferential treatment for technology research and developments, capital flows …

Ghana national Daniel Karikari worked as a part-time office assistant at a crypto startup, cleaning the office and serving coffee to its managers. While performing his tasks, he encountered the words “blockchain” and “cryptocurrency” on the office wall, sparking an interest that eventually led to a new career. In an interview with Cointelegraph, Karikari shared his humble beginnings. According to him, while working as an office assistant, he started to research crypto because he was curious about the stickers. He explained: “When I saw that, I began to research to know what those words mean. From there, I started browsing …

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 Thursday 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 checks. The exchange said that VARA will carry out further due diligence and other mandated requirements before its full operating license is issued, which it expects to happen in the “near term.” Crypto.com said in March it would …

Economist and cryptocurrency critic Nouriel Roubini is heading up the development of a tokenized asset to combat fears of rampant economic stagnation and inflation. Roubini has long been a skeptic of the cryptocurrency space, which makes his own foray into the world of digitized financial instruments intriguing. In his role as co-founder and chief economist of Dubai-based investment firm Atlas Capital Team LP, Roubini is helping with the roll-out of a set of financial instruments to launch a security token that will act as a “more resilient dollar.” As initially reported by Bloomberg, Atlas Capital CEO Reza Bundy and Roubini …

The Dubai Virtual Asset Regulatory Authority, or VARA, has purchased land in the virtual reality world The Sandbox (SAND) as part of its plans to set up a metaverse headquarters. In a Tuesday announcement from Emirates news agency WAM, VARA said the metaverse entry was aimed at facilitating “collaborative engagement” between virtual asset service providers, international regulatory authorities, and industry leaders. In addition, the Dubai regulator said establishing its “MetaHQ” office could help reach “younger licensees” entering the virtual world. "By expanding VARA’s resources to a borderless audience through the Metaverse, Dubai is creating a prototype Decentralised Regulator Model, inviting …

Multi-billion dollar Dubai-based real estate developer DAMAC Properties has started accepting Bitcoin (BTC) and Ether (ETH) payments for its luxury abodes. DAMAC Properties was founded by colorful billionaire Hussain Sajwani in 2002, and the firm has conducted business throughout the middle east, Canada and the United Kingdom. It also owns high-end fashion and jewelry brands Roberto Cavalli and De-Grisgono. Sajwani is known for extravagant marketing tactics such as giving away free Lamborghinis to property buyers. He also teamed up with Donald Trump in 2013 to launch multiple Trump-branded golf courses in Dubai. The firm, valued at roughly $2.1 billion, may …

Californian crypto exchange Kraken becomes the second virtual asset platform after Binance to receive regulatory approval to operate in the Abu Dhabi international financial center and free zone, Abu Dhabi Global Market (ADGM). In a CNBC interview, Kraken’s managing director Curtis Ting explains the importance of diversifying trading pairs to local currencies instead using the traditionally available United States dollar or Great British pounds in global markets. With the new operational license in Abu Dhabi, Kraken aims to better integrate with local banks and payment service providers. According to Ting, this will help the crypto exchange bring global-level liquidity to …

According to local news outlet Arabian Business, Citizens School, located in Dubai, will accept tuition payments denominated in Bitcoin (BTC) or Ethereum (ETH). Payments using digital assets are facilitated via an unnamed processing platform and are automatically converted into United Arab Emirates Dirhams (AED). Dr Adil Alzarooni, founder of Citizens school, commented: "We look forward to enhancing the role of young generations in achieving the UAE's digital economy. As more people embrace the era of digitalization, today's children will become the entrepreneurs and investors of tomorrow." Meanwhile, Hisham Hodroge, CEO of Citizens School, added: "Introducing the ability to pay tuition …

MENA Climate Week kicked off on Tuesday with a focus on discussing the use of blockchain technology for bringing transformative climate action to the region. Kristina Cornèr, Cointelegraph’s editor-in-chief, shared her insights in a panel discussion at the event about how the climate action sector can benefit from the crypto and blockchain community. In the session held in Dubai, United Arab Emirates, Cornèr discussed topics ranging from the media’s role in educating the masses about blockchain to trust and collaboration within blockchain projects and how the climate action community could use the blockchain community’s strengths such as ambition, action and …

Last week got off to an antsy start as the clause that many interpreted as a direct route to ban proof-of-work-(PoW)-based cryptocurrencies made a sudden comeback to the draft of the European Union’s key directive on digital assets. Many in the crypto policy space got immediate flashbacks to other instances of harmful last-minute additions to must-pass legislation days and hours before the vote. It all ended well, though, as the Committee on Economic and Monetary Affairs voted against the draft that contained the hostile language. Over in the United States, monetary policy kept growing more political, as evidenced by Sarah …

Cryptocurrency exchange Binance announced on Wednesday that it had been granted a license to operate in Dubai, United Arab Emirates. The company’s presence in the Middle East has been building up lately, with a crypto service provider license in another Gulf market, Bahrain, coming in earlier this week. Under the Dubai virtual asset provider (VASP) license, Binance will be allowed to set up an office in the emirate and provide digital asset exchange services to pre-qualified investors and financial firms under the newly adopted regulatory guidelines. Dubai is one of the seven emirates constituting the federation of the UAE. It …

Major global cryptocurrency exchange FTX is expanding operations in the United Arab Emirates by receiving a virtual asset license in Dubai. The license is apparently granted under a new cryptocurrency law adopted last week in Dubai, with Dubai Virtual Asset Regulatory Authority (VARA) becoming a major crypto regulator in the Emirate’s special development and free zones. According to FTX founder and CEO Sam Bankman-Fried, FTX has received the “first and so far only” digital exchange license from Dubai. Binance has also obtained a crypto license in Dubai under the same program, according to a report by Bloomberg. The world's largest …