2024 cemented the UAE’s status as a global crypto hub as its landscape changed substantially with new stablecoin regulations, tax exemptions and stricter marketing rules.
UAE news
Web3 professionals pointed toward talent and capital, Shariah-compliant crypto services and dirham-pegged stablecoins when asked about crypto trends in the Middle East.
Bitpanda has secured in-principle approval from Dubai’s VARA, paving the way for its entry into UAE’s growing crypto market and advancing its global expansion strategy.
Sui is looking for new scalable and sustainable projects for its blockchain, and it’s offering generous encouragement.
BlackRock has secured a license in Abu Dhabi, focusing on AI and private markets while expanding its presence in the UAE’s crypto-friendly ecosystem.
Tether’s senior strategic partnership manager, Alessandro Giori, said that TON is the fastest blockchain to reach 1 billion USDT since its launch.
Chainalysis faces a $650 million defamation lawsuit, the EU’s ESMA pushes for MiCA amendments, Cyprus and Ireland scramble to align with regulations, and Italy plans to hike tax on Bitcoin.
While the UAE central bank has given a significant regulatory nod to a new stablecoin, an FTX customer sued hedge fund Olympus Peak over its alleged profits from the exchange’s meltdown.