Fintech News UAE’s Post

🌍 The global Blockchain and Crypto industries descended on Dubai recently for a number of conferences. Did you know the UAE is home to the world's first independent Virtual Assets regulator: VARA (The Virtual Assets Regulatory Authority)? VARA's innovative approach to regulation and strategic policies offer a robust ecosystem for growth that is attracting significant attention from the global industry🔍 🚀 NKC Digital and our specialist partner Manpreet K. at cander consulting are now advising VASPs (Virtual Asset Service Providers) on how to obtain licenses with VARA as well as DIFC and ADGM. Manpreet is an ex-VARA founding member who is ideally placed to offer advice on how to navigate the licensing, governance and regulation processes 💱 🏦 In addition, if you are a TradFi institution such as a Bank seeking advice and consulting services for introducing Blockchain and innovative Web3 solutions please get in touch with me to setup an exploratory meeting with us 📲 📨 #blockchain #crypto #defi #tradfi #vara #difc #adgm #virtualassets #regulation #licensing #consulting #dubai #uae #projectmanagement

More positive news in the region. Binance has successfully secured a full Virtual Asset Service Provider (VASP) license in Dubai. What does this mean for Binance and the broader virtual asset market in Dubai? Key Takeaways: 🌍 Regulatory Milestone: The newly acquired license from Dubai's Virtual Asset Regulatory Authority (VARA) allows Binance to offer a range of services including crypto-to-fiat exchanges and broker-dealer services to pre-qualified investors and financial firms under Dubai's stringent regulatory standards. 🏦 Enhanced Market Access: This license not only enables Binance to expand its services in the Middle East but also underpins its compliance with international financial regulations, enhancing investor confidence. 🛡️ Investor Protection: By complying with the Financial Action Task Force (FATF) guidelines, Binance ensures a secure trading environment for its clients, reinforcing its commitment to market integrity and customer security. 📈 Strategic Growth: Binance's establishment of a regulated platform in Dubai aligns with the UAE's vision to become a hub for blockchain and cryptocurrency innovation, potentially driving more blockchain-related businesses to the region. #Dubai #VASP #Binance #UAE #FATF #Crypto #Regulation

🚀 Exciting News in Digital Finance! 🚀 Phoenix Group PLC, a leading tech conglomerate listed on the Abu Dhabi Securities Exchange (ADX), is teaming up with Tether, a giant in the digital asset world, to launch a groundbreaking stablecoin pegged to the UAE Dirham! 🇦🇪💰 Supported by Green Acorn Investments Ltd., this new stablecoin is set to revolutionize the digital assets landscape by offering a stable, reliable, and secure digital currency. 🔹 Why It Matters: - Enhanced Stability: Pegged to the UAE Dirham, one of the world’s most stable currencies. - Global Reach: Designed to facilitate seamless transactions and reduce foreign exchange risks. - Innovative Platform: Built on a state-of-the-art blockchain for unmatched security and efficiency. Stay tuned for more updates on this revolutionary development in digital finance! 🌐📈 https://lnkd.in/ekFkdg5e #PhoenixGroup #Tether #Stablecoin #DigitalFinance #Blockchain #UAE #Dirham #Innovation #Crypto #FinancialInclusion #cryptoNews #GreenAcornInvestments Phoenix Group Tether.io Paolo A. Farah Zafar Bijan Alizadeh Green Acorn Investments Central Bank of The UAE Abu Dhabi Securities Exchange

Welcome to a busy December in Abu Dhabi. Looking forward to seeing old friends visiting over the coming couple of weeks to attend Abu Dhabi Business Week , ADFW , The Bitcoin Mena Conference and the F1. The agenda and speaker lineups look great and it’s no surprise that Stablecoins are prominent. They have the PMF for crypto and are truly the bridge for widespread adoption into broader finance. So many excellent products being built in this space. If you’re in town and would like to discuss Stablecoins, please get in touch. At GMO-Z.com Trust Company, we have lots of things to discuss if you’re looking for a NYDFS regulated multi currency multi blockchain enabled solution. On the industry body side, If you’re a Stablecoin project or looking to join the Stablecoin Standard ecosystem, contact me. Looking forward to a productive month in the capital of the most progressive jurisdictions for digital assets. #abudhabi #stablecoins #gmotrust #GYEN #ZUSD #stablecoinstandard

🎥 Exclusive Interview with Nicholas McNicholas, Head of Regulatory Affairs and Enforcement at #VARA! 🚀 I had the pleasure of sitting down with Nicholas McNicholas, Head of Regulatory Affairs and Enforcement at Virtual Assets Regulatory Authority [VARA] Assets Regulatory Authority (VARA), to discuss Dubai’s evolving digital asset regulations. During the interview, we delved into some key areas: 🔹 The enforcement framework VARA is building to regulate Virtual Asset Service Providers (VASPs) and ensure market integrity. 🔹 Insights into the recent MOU between VARA and the Securities and Commodities Authority (SCA) , simplifying the regulatory landscape for VASPs across the UAE. 🔹 The exciting future of real-world asset tokenization and how VARA is preparing for it. 🔹 How Dubai is positioning itself as a global hub for blockchain innovation by balancing regulation and innovation. If you’re in the blockchain or crypto space, this is a must-watch/ READ for understanding the future of digital assets in Dubai! Check out the full article here! 👇https://lnkd.in/eJW9gKPk #Blockchain #DigitalAssets #VASPs #Regulation #Crypto #Dubai #VARA #Enforcement #Innovation #Web3 #Tokenization #UnlockBlockchain #CryptoNews

🚨 UAE to Expand Crypto Services Across the Country 🚨 📢 In a significant move towards regulatory cohesion, the UAE's Securities And Commodities Authority (SCA) and Dubai's Virtual Assets Regulatory Authority (VARA) have signed an agreement to streamline the licensing regime for Virtual Asset Service Providers (VASPs). This agreement allows Dubai-licensed VASPs to service the entire UAE, boosting market confidence and supporting the growth of the virtual asset ecosystem. Key highlights: ✅ VASPs licensed in Dubai can now operate across the UAE. ✅ Mutual supervision of crypto providers includes mechanisms for penalties, fines, and information exchange. ✅ Enhanced cooperation on Anti-Money Laundering (AML) regulations. ✅ First steps towards an interoperable and secure virtual asset ecosystem. This collaboration is a milestone in ensuring the UAE continues to lead in global crypto adoption 🌍, ranking 3rd globally and fostering innovation within the crypto space. 🔗 How do you think this will impact crypto regulation across the region? Let’s discuss in the comments! 👇 #Cryptocurrency #Blockchain #UAE #Dubai #VASP #CryptoRegulation #Fintech #DigitalAssets #CryptoCompliance #DigitalAssets #Fintech #Blockchain #Innovation #EURegulation #CryptoPolicy #CryptoExchanges #InvestorProtection #Compliance #Blockchain #CryptoNews CryptoLending #Cryptotax #Cryptotaxes #Cryptoaccounting #Cryptocpa #qatar#crypto #btc #eth #bitcoin #cryptoaccountant #caryptotaxes

🚨 Dubai Tightens Rules on Crypto Marketing to Protect Investors 🚨 Dubai’s Virtual Asset Regulatory Authority (VARA) has introduced stricter regulations for companies marketing crypto investments in the region. These new rules are aimed at increasing transparency and protecting investors from potential risks in the volatile world of digital assets. 📢 Key Updates: Mandatory Disclaimer: All marketing materials must clearly state that "virtual assets may lose their value in full or in part and are subject to extreme volatility." Incentive Compliance: Companies offering incentives related to digital assets must ensure their promotions are compliant and not misleading to investors. Broader UAE Reach: VARA-licensed providers can now expand their services across the UAE, in collaboration with the Securities and Commodities Authority (SCA). According to VARA CEO Matthew White, these measures will help providers deliver services responsibly, fostering trust and transparency in Dubai’s growing crypto market. 🌐 #DubaiCrypto #VARA #CryptoMarketing #BlockchainRegulation #CryptoInvestments #DigitalAssets #UAE #Fintech #InvestorProtection #CryptoPolicy #CryptoExchanges #InvestorProtection #Compliance #Blockchain #CryptoNews #CryptoLending #Cryptotax #Cryptotaxes #Cryptoaccounting #Cryptocpa #crypto #btc #eth #bitcoin #cryptoaccountant

UAE is positioning itself as a global leader and pioneer in the adoption and development of blockchain technology and decentralized finance (DeFi). UAE’s proactive stance positions it as a key player in shaping the future of the global financial landscape. With its strategic focus on innovation and world Class Infrastructure, the country is embracing blockchain as a key enabler for transforming traditional financial systems and creating a digital assets ecosystem. Its commitment to blockchain technology and decentralized systems will likely continue to attract international attention and investment. UAE's regulatory and taxation frameworks play a pivotal role in fostering the growth of blockchain and DeFi businesses. UAE's approach to regulation strikes a balance between supporting innovation and ensuring compliance with global financial standards, making it an ideal hub for blockchain startups, investors, and developers. SS&CO has carried out the UAE Corporate Tax assessment for some Major Business Licenses activities available. Please connect for further discussion. Sidra Salman, FCCA(UK) SS&Co #BlockchaininUAE #TransitiontoDeFi #FrameworkSupport #Regulatoryassessment #SCA #VARA #DIFC #ADGM #FederalTaxAuthority #Interoperability #AccountingforDeFi

The Central Bank of the UAE (CBUAE) Board has approved a new licensing framework for regulating stable cryptocurrencies. Alongside, they endorsed policies to boost banking, insurance, and financial infrastructure services. The Board assessed Emiratization progress and support for UAE nationals within these sectors. They also reviewed projects under the Financial Infrastructure Transformation Program, which includes the Digital Dirham and other projects, aimed at enhancing the UAE's digital economy. ⚖️ What’s is the impact of a new licensing framework for regulating stable cryptocurrencies within UAE? 1. It provides clear regulatory guidelines, increasing industry trust. 2. It enhances market stability by mitigating risks from unregulated activities. 3. It fosters innovation, attracting global crypto enterprises to the UAE. 4. It supports the UAE's digital economy growth by integrating advanced financial technologies. Please refer to https://lnkd.in/g6qnzzpZ #cryptocurrencies #bitcoin #uae #cbuae #cryptolaw #cryptoregulation #blockchain #innovation

📢 CBUAE Approves AED Stablecoin The Central Bank of the United Arab Emirates (CBUAE) has granted preliminary approval for the issuance of a stablecoin pegged to the Emirati Dirham (AED). This significant milestone marks a pivotal moment in the UAE's journey towards embracing cryptocurrency and blockchain technology. A #stablecoin, unlike volatile cryptocurrencies like #Bitcoin or #Ethereum, maintains a constant value by being pegged to a stable asset. In this case, the AED stablecoin aims to provide a secure and stable digital currency for transactions, benefiting both individuals and businesses. The CBUAE's decision aligns with the #UAE's broader strategy to become a global fintech hub. By embracing #blockchain and #cryptocurrency, the UAE seeks to attract foreign investment, foster innovation, and modernize its financial sector. The introduction of an AED stablecoin could transform the UAE's financial landscape. It could lead to increased efficiency, reduced transaction costs, and greater accessibility to financial services. However, the CBUAE will need to carefully regulate the stablecoin to ensure its security, transparency, and stability. This development is a testament to the UAE's forward-thinking approach to technology and its commitment to staying at the forefront of the global financial landscape. #cryptoregulation #mica #micalawyer #cryptoassets #defi #defilaw #cryptocompliance #sadrisali #sbcr #web3 #web3law #fintech