City Dubai Financial News

The government will also review property rights for tokenised assets.

Hong Kong's government has proposed allowing retail investors to trade in cryptocurrencies and crypto exchange-traded funds – a move it hopes will help it rebuild its fintech hub status.

An NFT event ticketing marketplace has teamed up with a major electronic music brand.

A Hong Kong-headquartered crypto investment platform, Q9 Capital, received provisional virtual asset approval from Dubai’s Virtual Asset Regulatory Authority (VARA). The company announced its expansion to the UAE and applied for a full operating license as well. 

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Members of a 4,400-strong Discord group called the “UST Restitution Group” (URG) have been attempting to track down the whereabouts of Terra co-founder Do Kwon.

Cardano (ADA) price is in the process of painting its seventh red monthly candle in a row as the token fell to its lowest level since February 2021.

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Cryptocurrency exchange Blockchain.com has recently beengranted preliminary approval from Singapore to provide crypto services in the Southeast Asian city-state. The exchange plans to grow its Singapore office and expand its client base as this process goes underway.

Middle East's first physically-backed bitcoin ETP by 21Shares AG

crypto tokens were trading sideways on Thursday as investors fretted over new job figures and OPEC oil cuts.Bitcoin held above the $20,000 mark, whereas Ethereum was seen marching towards the $ 1,400 mark again. However, economic factors including inflation and recession are likely to guide the riskier assets in the near term. Barring the US dollar-pegged stablecoins and Shiba Inu, all other top crypto tokens were trading higher on Thursday. XRP zoomed more than 4 per cent, whereas Ethereum, Avalanche and Polkadot gained a per cent each. The global cryptocurrency market cap was trading marginally higher at $972.12 billion, rising less than a per cent in the last 24 hours. However, the total trading volume dropped over one per cent to $59.92 billion.

Such transactions, though perfectly kosher in Dubai, which wants to position itself as the world's crypto capital, can come back to haunt the property owners, most of whom are unmindful of the regulatory and legal pitfalls ahead. Little do they realise that copies of their passports, those of their family members or close relatives in whose name the property is registered could someday fall into the hands of the Indian Income Tax (I-T) Department and Directorate of Enforcement (ED). With the Reserve Bank of India (RBI) imposing a shadow ban on cryptos and the finance ministry almost taxing the asset to death, many high net-worth individuals (HNI) investors have moved their cryptos to Dubai and other financial centres.

One of India’s oldest cryptocurrency exchanges is looking overseas for growth as the nation’s tax policies crush the domestic market.

Two months ago, Abdul (name changed) made the decision to leave India in search of a better life, just like millions of other Indians who do the same thing every year. Armed with a college degree, Abdul, who hails from Telangana, had tried his hand at a few jobs in India but found that the income was never enough.

A new report published by blockchain intelligence firm Chainalysis shed light on some interesting news coming out of the Middle East and North Africa (MENA) region.

Emerging markets continue to forge their way into the crypto scene finding a plethora of use cases, especially in the combined Middle East and North Africa (MENA) region.

Major crypto exchange Binance continues its international expansion with the opening of two new offices in Brazil, based in São Paulo and Rio de Janeiro. 

Global cryptocurrency exchange Binance has registered with New Zealand’s Ministry of Business, Innovation and Employment and opened local offices in the country.

The United Arab Emirates (UAE) Ministry of Economy has announced a new headquarters located where anyone in the world can visit — the Metaverse.