MENA MD finds UAE as the optimum environment for global crypto activity
The new MENA Managing Director of Krake, a global crypto exchange company that recently built its headquarters in the country believes that UAE is the most forward-looking and regulatory market for crypto as it connects the global capital market and provides for the most innovative jurisdictions in the world
Reported hike in global activity with respect to cryptocurrency
According to the Chain Analysis, Geography of Cryptocurrency, it was stated that the Middle East has received $271.7 billion worth of cryptocurrency which represents almost 7% of activity in that region. Studies show that it has been possible only due to improved regulatory systems, larger liquidity pools, and adequate education on the concept of digital currency
MENA Investors move ahead with caution ahead of the “crypto winter” season
According to a report provided by Axiory, a global brokerage firm, it was reported that MENA Investors have become quite sensitive to volatility, especially regarding assets that are new in the pool. This is suspected due to the major crypto market value fall of almost 65% first time since January 2021
Dubai’s VARA grants a provisional license to Coinmena
A Bahrain Headquartered and Sharia-compliant digital asset exchange company, Coinmena has recently secured a provisional virtual assets license from Dubai’s Virtual Assets Regulatory Authority (VARA) which would allow it to expand its parent activities and also establish firm banking relations within the UAE
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