The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong commitment to financial inclusion, says a report.

The increases came after a federal judge in Manhattan partially dismissed the SEC's case against the creators of the XRP cryptocurrency, Ripple Labs, who were accused of marketing their currency without first registering it with the Wall Street regulator. The SEC has argued for years that certain digital currencies are...

Dubai, UAE -- The Central Bank of the UAE (CBUAE) Wednesday issued guidelines on the risks related to, and combating the use of, virtual assets (VA), such as cryptocurrencies and exchange tokens, and Virtual Asset Service Providers (VASPs) in money laundering and financing of terrorism. The guideline elaborates on various...

Government bodies are now working towards finding solutions to the problem but businesses, beside devising strong backup strategies, need to invest in ransomware prevention to protect themselves from huge financial damage and the possibility of financing further crime, adds Weijdema.

Regulators worldwide are increasingly worried about the lack of oversight of the digital currency sector but the European Union has already taken steps to protect investors. Last month, EU parliament approved the world's first comprehensive rules covering crypto assets.

The European Parliament approved the comprehensive rules to regulate the "Wild West" world of cryptocurrencies, hoping to protect investors against abuse and manipulation. EU member states have already backed the legislation covering cryptoassets, including cryptocurrencies such as bitcoin and ethereum and other tradable tokens whose value is secured using blockchain...

The United States has charged Bankman-Fried with conspiracy, wire fraud, money laundering and election finance violations. Prosecutors allege he cheated investors and misused funds that belonged to FTX and Alameda Research customers. Bankman-Fried pleaded not guilty to all eight counts against him -- five of which carry a maximum sentence...

The Middle East, Africa and Asia Crypto and Blockchain Association aims to bring industry players together to discuss strategies and address the challenges faced by the sector.

Regulators have begun to pay attention, with US Securities and Exchange Commission Chairman Gary Gensler suggesting proof-of-stake looked like a securities market that would fall under his remit.

According to a PWC estimate, the MENA region's blockchain market would reach $3.2 billion by 2024, and the UAE is working to become a major player in the field.

Many risks companies face in the real world exist in the metaverse, albeit with a digital twist, requiring insurance players to come up with a new set of liability policies.

As the number of people in UAE who deal in cryptocurrency rises, sectors like real estate, hospitality and travel have started accepting cryptocurrency payments.

Crypto philanthropy has emerged as an important and sustainable source of fundraising for charities, giving people greater opportunities to donate for good.

Dubai is developing an environment that encourages firms from all industries to innovate. Already, the UAE is home to one-third of fintech startups in the Middle East and North Africa. Moreover, as the region's leading financial hub, Dubai offers financial solutions to over one billion customers throughout the Middle East,...

Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors spooked by aggressive US monetary tightening and surging inflation.The world's largest cryptocurrency by market value fell as low as $29,764 in Tuesday trade, before recovering above $30,000.

Blockchain expert Kim Grauer offers insights into why people fall prey to scammers, how they can protect their crypto assets and recover the pilfered digital currency.

Dubai Municipality will work with private sector companies and investors to create a futuristic, human-centered version of the city that capitalizes on opportunities thrown up by the metaverse, according to Dawood Abdul Rahman Al Hajri, Director-General of Dubai Municipality. Dawood Abdul Rahman Al Hajri, Director-General of Dubai Municipality, said this....

The emirate's Virtual Asset Regulatory Authority governs cryptocurrency trade through a comprehensive set of legislations and globally applicable policy frameworks.

Art Dubai, the Middle East's largest annual contemporary art fair, has featured for the first time digital works, as the wealthy Gulf emirate seeks to position itself as a crypto-assets hub.

Due to growing environmental consequences, even though proof-of-work was spared in the EU for now, it is simply too fragile to operate harmlessly through an ever-changing regulatory environment and the ascending intention to be sustainable from regulators, users, and developers across the globe, he adds.

Are regional governments ready to adopt blockchain technology to boost business payments, transactions, interbank payments and corporate dealings?

Cyberattacks in the Middle East hit record levels in 2021. Reports suggest that malware, distributed denial of service (DDOS) attacks, ransomware, and other common threat vectors grew by double digits in 2021, with the government, private, oil and gas, telecom, and healthcare and finance sectors being the most affected.

Experts believe that 2022 will be a milestone year for bitcoin, with the ups outweighing the downs. Cryptos may suffer in the early part of 2022 due to concerns over the overall macroeconomic environment, with Covid-related uncertainty and inflation being high and central banks unsure whether to be proactive in...

TRENDS broke this news in October. The agreement will regulate the offering, issuance, listing and trading of encrypted assets of the firm that is based in Seychelles.

India's government will introduce a bill to ban private cryptocurrencies and create a framework for a central bank-backed digital money, parliament said in a shock announcement late Tuesday.

An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online

The bank has effectively sounded the death knell for digital currencies in China.

Despite being the future of money, Bitcoin cannot be the dollar of future because the US dollar is a fiat currency, created and supported by the US government.

Even as the GCC countries dither to embrace cryptocurrencies, the UAE has made some significant strides in this regard.