The UAE is following a different crypto regulation playbook, and the digital asset industry is taking notice. Opinion.
On July 10, the Dubai Virtual Assets Regulatory Authority suspended BitOasis’s conditional license to engage in activities related to digital assets. This action by the Dubai regulator is representative of and lends credence to the novel approach the United Arab Emirates and its domestic regulators have taken towards regulation of digital assets.
In contrast, U.S. regulators, as demonstrated by the charges against Coinbase and Binance in early June, have organized around an approach that provides no advance notice to industry participants, opting instead to bring charges which rely on untested and novel legal theories. Each emirate is left to determine for itself how it will regulate digital assets – a situation which has fostered intrastate competition through regulation for business and investment effected through incentives, including tax breaks and designated free economic zones. Abu Dhabi and Dubai in particular have assumed leading roles in attracting digital asset industry participants to their jurisdictions.
These policies, while different, stand in stark contrast with the U.S. approach – characterized by agency turf wars over who gets to regulate what, with industry participants stuck in the crossfire.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Bitget reserves top $1.44B, claims to be debt freeCrypto exchange bitgetglobal says it's operating without debt, with a proof-of-reserves ratio at 223%. While this is a step towards transparency, auditing off-chain assets remains a complex task.
Leer más »
South Korea Wants Companies to Disclose Crypto HoldingsSouth Korea's financial watchdog FSC has decided on draft rules for firms' disclosure of crypto holdings, following the passing of the Virtual Asset User Protection Act. By lavender_au
Leer más »
Crypto regulation bill revived, and new report sheds light on digital asset crime: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Jacqueline Burns Koven, the head of cyber threat intelligence at Chainalysis, explains the data revealed in the company's mid-year crypto crime report.
Leer más »
‘Greenhushing’: Why some companies quietly hide their climate pledges“Greenhushing” is when a company tries to hide or downplay its environmental efforts and climate commitments. It is becoming a trend.
Leer más »
EU’s ESMA Issues First Batch of Detailed Crypto Rules Under MiCA LawEU agency ESMAComms is for the first time deploying new powers under the bloc’s landmark MiCA law – with draft regulations covering crypto authorization, conflict of interest and complaint handling. jackschickler reports.
Leer más »
Iran at odds with allied Russia after Moscow backs UAE in island disputeRussia and the GCC urged a diplomatic or internationally arbitered solution to an Iran-UAE territorial dispute over three islands.
Leer más »