Dubai is stepping up its efforts to ensure transparency and protect investors in the crypto space. Starting October 1st, new regulations from the Virtual Assets Regulatory Authority (VARA) will require all companies marketing virtual assets in the UAE to include a clear disclaimer about the risks involved.
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UAE approves new AML, CFT national strategy for 2024-27
The UAE has approved the new national strategy for Anti-Money Laundering, Countering the Financing of Terrorism, and Proliferation Financing (AML, CFT, and CPF) for 2024-2027.
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Luxury Handbags: The New Investment Frontier
According to precedenceresearch.com, in 2023, the global luxury handbag resale market reached an impressive $31.87 billion and is projected to grow to $57.28 billion by 2033.
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Google tightens rules on Crypto Ads in Switzerland
Google is tightening its rules on cryptocurrency ads, effective the 20th September 2024.
Find the new regulation here : https://support.google.com/adspolicy/answer/15294589?hl=en
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Mastercard and Mercuryo launches Euro-denominated crypto debit card
Mastercard, in partnership with Mercuryo, has launched a Euro-denominated debit card that allows users to spend cryptocurrencies from self-custodial wallets at over 100 million merchants globally, without the need for centralized exchanges.
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UAE’s Phoenix Group, Tether to launch Dirham-pegged stablecoin
Tether, the developer of the world's largest stablecoin, announced plans to introduce a new token pegged to the United Arab Emirates' Dirham (AED) in collaboration with Abu Dhabi-listed crypto conglomerate Phoenix Group (PHX).
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SEC charges siblings over $60M Ponzi
The SEC has taken swift action against two brothers accused of running a $60 million Ponzi scheme disguised as a crypto trading bot.
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Ripples: Dual Journey
Ripple, a provider of digital asset infrastructure for financial services, has joined forces with the Dubai International Financial Centre (DIFC) to bolster the adoption of blockchain and crypto technologies in the UAE.
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Swiss Blockchain Federation Criticizes FINMA
The Swiss Blockchain Federation has raised concerns over FINMA's recent communication on stablecoins, arguing that the new requirements for comprehensive user identification lack legal basis and could cripple Swiss competitiveness in the stablecoin market.
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FINMA issues Guidance on Stablecoins, Highlights Risks and Compliance
The Swiss Financial Market Supervisory Authority (FINMA) released new GUIDANCE (August 2024) on stablecoin issuance.
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