Image Source: Pixabay A group of former FTX executives have joined forces to establish a new crypto trading platform based in Dubai. Led by Can Sun, the former general counsel of FTX, the startup is called Trek Labs and received a license from Dubai’s crypto regulator last month, according to a recent report from The Wall…
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Berkshire Hathaway billionaire Charlie Munger may think Bitcoin is a “stink ball,” but director of global macro at financial giant Fidelity, Jurrien Timmer, says the asset is “exponential gold.” Find out why, just below, in the latest Bitcoin.com News Week in Review. Berkshire Vice Chair Charlie Munger Compares Bitcoin to a ‘Stink Ball’ Among Traditional…
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The cryptocurrency exchanges offers a self-custody solution that integrates a multiparty computation technique to secure funds. Several former FTX executives have teamed up to help build a new cryptocurrency exchange in Dubai with a specific focus on what FTX failed to do — secure customer funds. Ex-FTX lawyer Can Sun is leading the way with…
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Deepa Raja Carbon told Cointelegraph that VARA took a collaborative approach and consulted stakeholders, legislators and the general public to develop its virtual asset regulatory guidelines. The Virtual Assets Regulatory Authority [VARA] is one of the earliest world regulatory bodies to release comprehensive crypto assets regulations to promote crypto-related activities in Dubai. Established in March…
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As the metaverse loses its appeal to some global tech leaders, MetaMinds Group CEO Sandra Helou argues that failures in metaverse initiatives resulted from a lack of proper business models. The metaverse may no longer have mainstream appeal to some global tech leaders compared to two years ago. However, weaknesses in the testing of the…
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Abu Dhabi aims to become a crypto hub alongside Dubai in a move that’s part of a larger goal to foster initiatives in the blockchain and digital asset realm. Abu Dhabi, the second-most populous emirate in the United Arab Emirates, has introduced a formal regulatory framework for decentralized autonomous organizations (DAOs) and other digital ledger…
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Source: Pixabay The Dubai Financial Services Authority (DFSA) has expanded its recognition of digital assets, adding Ripple (XRP) and Toncoin (TON) to its list of officially recognized tokens. This development underscores the DFSA’s commitment to creating a conducive regulatory environment for digital assets. The authority introduced cryptocurrency regulations in October 2021, reinforcing them in November…
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The new tokens join the ranks of BTC, ETH and LTC for use by the 4,000-plus companies located in the zone, which is considering new legal measures as well. The Dubai Financial Services Authority (DFSA) recognized two more tokens on Nov. 2, adding XRP (XRP) and Toncoin (TON) to its list of recognized tokens. They…
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The license allows WadzPay to begin preparing to provide virtual asset services and activities under the VASP License for Transfer and Settlement and Broker/Dealer activities. The Dubai Virtual Assets Regulatory Authority (VARA) has issued an “Initial Approval” license to the crypto firm WadzPay, marking a pivotal step in the company’s journey toward obtaining a Virtual…
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Source: Pixabay Backpack, an all-in-one Web3 wallet, has become the latest to receive a Virtual Asset Service Provider (VASP) license in Dubai. The approval will enable Backpack to launch a regulated cryptocurrency exchange service in the city. Per the company’s press release, Backpack Exchange is set to launch in private beta for its members in…
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