Uae Financial News

Enforcement Directorate (ED) is probing the use of the darknet and cryptocurrencies by India's most-wanted fugitive, Dawood Ibrahim, amid suspicion that the underworld don has turned to digital tools to deploy the proceeds of crime raised through money laundering to invest primarily in offshore real estate. Ibrahim has been found to be actively involved in various illicit businesses, including betting, drug trafficking and extortion, said people privy to the details of the probe. «A substantial amount of the proceeds of crime raised through these illegal businesses has been invested to buy cryptocurrencies and purchase real estate,» said one of the officials, who did not wish to be identified. «Money is routed to wallets through hawala transactions and then these wallets are used to purchase real estate. The United Arab Emirates (UAE) is one of the preferred destinations both for purchase of wallets and investing in real estate. D-Company (Ibrahim's criminal syndicate) has a strong hawala network to send money to the UAE.»

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The United Arab Emirates is reportedly planning to issue a federal crypto license for virtual asset service providers (VASPs) by the end of the first quarter.

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 

French people opposed to the country’s vaccine pass system are planning to drive to Paris en masse in protests inspired by the so-called Freedom Convoy in Canada, according to organisers on social media.

A law requiring people with COVID to isolate could be scrapped in England by the end of February, Boris Johnson has announced.

The price of a single bitcoin continued its climb upwards after lows last week. On Saturday morning, it even surpassed the $9,000 mark before paring back its gains. At 14:19 UTC on Monday, bitcoin was trading at $8,689.80 per pop, up 7.8% from its price 24 hours ago. That figure also represents a climb of approximately 25% from its price a week ago. 

Bitcoin, the most active cryptocurrency, recovered nearly 15 per cent to trade at $37,600 levels at the time of this article. Bitcoin, along with many other cryptocurrencies, had a fantastic yet volatile run in 2021, hitting all-time highs.Negative sentiments prevailed The price correction was imminent to test the support levels. Despite some bargain buying at lower levels by both institutions and retailers, many remained on the fence due to the overall negative sentiments in the financial markets.

NFT, the abbreviation of non-fungible token, was Collins Dictionary’s term of the year in 2021. Having entered the mainstream, its usage increased 11,000%. As the concept has gained traction globally, so too did the associated scams.

Germany will send a field hospital to Ukraine amid the security crisis between the West and Russia, the country's defence minister said on Saturday — while ruling out military aid for now.

A YouTuber started a journey in September to see whether he could survive solely on Bitcoin as a means of payment while traveling to 40 different countries.

Back in 2021, a study showed that there is a high demand for cryptocurrency payment abilities among both crypto holders and non-holders. However, in the same study, 50% of participants noted that there are not enough businesses that accept crypto. This may change very soon.

While many countries are inclined to simply ban the use of Bitcoin (BTC) and virtual assets, regulators in the United Arab Emirates are taking a different approach. 

CZ, as he's known to cryptophiles, is quickly becoming a fixture in the United Arab Emirates.

As digital asset prices had been hitting new historical highs in 2021, many jurisdictions were increasingly adopting cryptocurrencies like Bitcoin (BTC) and other crypto-based instruments.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Crypto scams, rug pulls and other such cybercriminal activities have continued to act as a major bane for the cryptocurrency industry that is still striving for mainstream acceptance. In just the previous year, such scams cost investors over $7.7 billion after noting a record spike of 81%.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Dubai's ruler Mohammed bin Rashid al-Maktoum was ordered on Tuesday to pay more than €640 million to his ex-wife and their children, in what is believed to be the largest divorce settlement awarded by a British court.

Binance said on Tuesday it signed a cooperation deal with Dubai World Trade Centre Authority

The world’s largest cryptocurrency trading platform, Binance, is among the first crypto exchanges to join a new crypto hub established by the Dubai World Trade Centre Authority (DWTCA).