Ex-Singapore Parliamentarian Calvin Cheng forms the first regulated non-fungible token (NFT) and fan token investment holding company in Dubai. The Dubai Virtual Asset Regulatory Authority...

Dubai’s Virtual Asset Regulatory Authority has licensed two cryptocurrency exchanges: Binance and FTX. The regulator was formed last week when Dubai approved its first law to regulate crypto assets. Dubai Licenses Binance and FTX Cryptocurrency exchanges FTX and Binance have been licensed by Dubai’s Virtual Asset Regulatory Authority (VARA). The regulator was established last week […]

Binance has become one of the first cryptocurrency exchanges to gain approval from the newly established Virtual Asset Regulatory Authority (VARA) in Dubai.

Two of the biggest crypto exchanges in the world just opened up shop in the Middle East in their latest push for global expansion. Binance, the biggest crypto exchange in the world just won the very first crypto provider service license in the Kingdom of Bahrain. “Binance has been granted the first license for a […]

The post Crypto Exchanges Race to The Middle East! appeared first on Coin Bureau.

Dubai’s ruler and vice president Sheikh Mohammed bin Rashid Al Maktoum announced the adoption of a new law that aims to regulate virtual assets such as cryptocurrencies and NFTs.

The post Dubai establishes watchdog to regulate virtual assets under first crypto law appeared first on CryptoSlate.

His Majesty Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the United Arab Emirates and Ruler of Dubai, has signed the world’s first law on virtual assets regulation. The regulation was enacted with the goal of making Dubai a prominent actor in shaping the future of virtual assets while also encouraging responsible economic growth. Sheikh Mohammed confirmed that Dubai will play a significant role in shaping the worldwide future of virtual assets: “Today, we are engaged in shaping the global future of virtual assets.” Sheikh Mohammed emphasized that Dubai possesses all of the qualities that make it one of the most important worldwide centres for virtual assets, particularly the advanced regulatory environment. اعتمدنا اليوم في دبي أول قانون من نوعه لتنظيم الأصول الافتراضية Virtual Assets .. وأسسنا سلطة مستقلة للإشراف على تطوير أفضل بيئة أعمال في العالم للأصول الافتراضية تنظيماً وترخيصاً وحوكمةً واتساقاً مع الأنظمة المالية المحلية والعالمية .. pic.twitter.com/tqYEJdeuwh — HH Sheikh Mohammed (@HHShkMohd) March 9, 2022 “In terms of organization, governance, and security,” he continued, “Dubai will deliver the most advanced virtual asset ecosystem.” “Approving the virtual asset law and establishing the Dubai Virtual Asset Regulatory Authority is a vital step that establishes the UAE’s position in this sector… a step that aims to help the sector to grow and protect investors.” Dubai Virtual Assets Regulatory Authority (VARA) The Dubai Virtual Assets Regulatory Authority, a Dubai World Trade Centre affiliate, will be in charge of overseeing and monitoring regulations and disclosures. The Authority will oversee and regulate the emirate’s future growth of virtual assets. It would also grant virtual asset service providers licenses and safeguard beneficiaries’ personal information. Activities subject to VARA authorization are: Operating and managing virtual assets platforms services; Exchange services between virtual assets and currencies, whether national or foreign; Exchange services between one or more forms of virtual assets; Virtual asset transfer services; Virtual asset custody and management services; Services related to the virtual asset portfolio; Services related to the offering and trading of virtual tokens. The authority is also tasked with organizing and establishing the rules and controls that govern the conduct of virtual asset activities, according to the law. This covers management, clearing, and settlement services, as well as the classification and specification of virtual asset types. To conduct business, anyone intending to engage in any of the virtual asset operations must first establish a presence in Dubai. With the exception of the Dubai International Financial Centre, the law’s provisions apply across the emirate, including special development zones and free zones. Violation of this law could result in: The penalty of a fine; Suspension of the permit for a period not exceeding six months; Cancellation of the permit; and Cancellation of the commercial license. The new law and the establishment of the Authority, according to Helal Saeed Al Marri, Director General of the DWTCA, will strengthen the UAE and Dubai’s position in the virtual asset sector and attract leaders from all over the world. The Dubai Virtual Asset Regulatory Authority, according to Al-Marri, would provide a comprehensive spectrum of VA services in collaboration with the UAE Central Bank and the Securities and Commodities Authority.

The post Sheikh Mohammed Approves Law to Regulate Virtual Assets appeared first on Cryptoknowmics-Crypto News and Media Platform.

The Australian Transport Safety Bureau has launched an investigation after the cabin crew onboard a Virgin Australia Regional Airlines flight reported symptoms of mild hypoxia in-flight.

The Australian Transport and Safety Bureau (ATSB) has launched an investigation into a suspected hypoxia incident in the…