Key Takeaways The Ras Al Khaimah Digital Assets Oasis (RAK DAO), a specialized free economic zone in the United Arab Emirates, is set to introduce a legal framework for decentralized autonomous organizations (DAOs). The new regulatory guidelines will be unveiled…
Key Takeaways On October 9, Dubai’s Virtual Assets Regulatory Authority (VARA) announced it had issued fines and cease-and-desist orders to seven crypto businesses for violating marketing regulations and operating without proper licenses. The crypto watchdog, however, has not revealed the…
Key Takeaways Bybit, the world’s second-largest cryptocurrency exchange by derivatives volume, has secured a provisional license in Dubai two years after establishing its headquarters in the city. The license, granted by the Virtual Asset Regulatory Authority (VARA), allows the exchange…
Key Takeaways In a significant development for the United Arab Emirates’ legal approach to cryptocurrency, the Dubai Court of First Instance has issued a ruling, recognizing the payment of salaries in crypto as valid under employment contracts. This ruling, from…
Key Takeaways India-based crypto exchange, CoinDCX, has acquired Dubai-based digital asset platform BitOasis, which mainly operates in the Middle East and North Africa (MENA) region. “Combined with the company’s newly acquired licence in the Kingdom of Bahrain and the recent…
Key Takeaways The Dubai International Financial Centre (DIFC) has introduced a pioneering set of laws aimed at regulating digital assets, marking a significant development in the global financial landscape. The newly enacted Digital Assets Law, along with the Security Law…
Key Takeaways A group of former FTX leaders, led by ex-FTX General Counsel Can Sun is reportedly working on building a new crypto exchange. Can Sun, who testified against FTX Founder Sam Bankman-Fried at his criminal trial, is leading Backpack’s…
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