There is an educational website for beginning crypto users called ZeFi. The site has helpful introductory lessons, some interesting articles and a look of sincerity, much like other sites. However, none of it is that different — at least not in English. Its special feature is the language button in the upper right corner that reveals the Arabic version of the website. “There is really nothing about blockchain in Arabic. […] And once you find something in Arabic, it is mostly influencers that are trying to pump and dump coins,” ZeFi founder and CEO Karam Alhamad said. The Arabic version …

The blockchain industry’s impact on the energy sector has been a major source of controversy over the past five years. Governments and environmental protection advocates have routinely expressed concerns about the amount of energy required to keep the Bitcoin network secure. Data shows the network’s energy consumption now rivals the yearly energy consumed by some small countries. While much of the debate has centered around the negative environmental impacts of Bitcoin (BTC) mining, the drive to maximize earnings from mining and integrate blockchain technology with the energy grid has also introduced new developments that have the potential to be beneficial …

As the heated up discussion around the ethical aspects of using fossil fuels in crypto mining remains one of the key topics for the industry, an unexpected partnership between a Denver-based mining company and the government of a gas-rich Middle Eastern country sets a horizon for a positive role of crypto in cutting the fossil fuels waste. On Wednesday, June 1, Bloomberg reported that Crusoe Energy, an operator repurposing wasted fuel energy to the computational power of crypto mining, would start its work in Oman, a nation that exports 21% of its gas production and seeks zero gas flaring by …

A survey from digital payment company Block Inc. has found that the higher respondents rated their own level of cryptocurrency knowledge, the more optimistic they are about the future of Bitcoin (BTC). Block surveyed more than 9,500 people from the Americas (2,375), EMEA (4,360) and APAC (2,860) regions in January, ensuring to include 100 Bitcoin owners in each region for its 2022 Bitcoin Knowledge and Perceptions Report. The report, released on Tuesday, shows a correlation between optimism and the likelihood of purchasing, and compared the result with the respondent’s self-identified level of knowledge. Of those who identified as having fair …

Californian crypto exchange Kraken becomes the second virtual asset platform after Binance to receive regulatory approval to operate in the Abu Dhabi international financial center and free zone, Abu Dhabi Global Market (ADGM). In a CNBC interview, Kraken’s managing director Curtis Ting explains the importance of diversifying trading pairs to local currencies instead using the traditionally available United States dollar or Great British pounds in global markets. With the new operational license in Abu Dhabi, Kraken aims to better integrate with local banks and payment service providers. According to Ting, this will help the crypto exchange bring global-level liquidity to …

Abu Dhabi Global Market (ADGM), the emirate’s free zone, published a consultation paper on March 21 titled “Proposals for enhancements to capital markets and virtual assets in ADGM.” The document contains draft guidelines that, among other asset classes, cover nonfungible token (NFT) trading. The paper proposes that companies with a license from the free zone’s financial regulator be allowed to facilitate NFT trading. Along with sections dedicated to traditional financial instruments, the document contains a little more than a page on virtual assets and NFTs. In this section, the free zone’s chief regulator, the Financial Services Regulatory Authority (FSRA), describes …

Last week got off to an antsy start as the clause that many interpreted as a direct route to ban proof-of-work-(PoW)-based cryptocurrencies made a sudden comeback to the draft of the European Union’s key directive on digital assets. Many in the crypto policy space got immediate flashbacks to other instances of harmful last-minute additions to must-pass legislation days and hours before the vote. It all ended well, though, as the Committee on Economic and Monetary Affairs voted against the draft that contained the hostile language. Over in the United States, monetary policy kept growing more political, as evidenced by Sarah …

Cryptocurrency exchange Binance announced on Wednesday that it had been granted a license to operate in Dubai, United Arab Emirates. The company’s presence in the Middle East has been building up lately, with a crypto service provider license in another Gulf market, Bahrain, coming in earlier this week. Under the Dubai virtual asset provider (VASP) license, Binance will be allowed to set up an office in the emirate and provide digital asset exchange services to pre-qualified investors and financial firms under the newly adopted regulatory guidelines. Dubai is one of the seven emirates constituting the federation of the UAE. It …

When Bitcoin (BTC) traders pass away, their BTC may forever be lost within the blockchain if they haven't given anyone else access to their wallets. However, an exchange project wants to give crypto traders another option. Back in 2020, a study showed that many crypto investors worry about what happens to their digital assets when they pass away. 89% of respondents expressed concerns on whether their assets would be given to family or friends after their demise. In an interview with Cointelegraph, Jeetu Kataria, the CEO of Digital Financial Exchange (DIFX), highlighted the importance of a way to pass crypto …

Crypto exchange Binance will provide fully regulated services to its first country in the Middle East thanks to a license granted by Bahrain’s central bank. Bahrain was able to issue the license through the Cooperation Council for the Arab States of the Gulf (GCC). The world’s largest exchange and CEO Changpeng Zhao announced the crypto-asset service provider license on March 14. #TeamBahrain.#Binance has been granted the first license for a global crypto-asset provider in The Cooperation Council for the Arab States of the Gulf (GCC) by the Central Bank of Bahrain. pic.twitter.com/Ndnb4xhA5y — CZ Binance (@cz_binance) March 14, 2022 Binance’s …

Major crypto exchange Binance has reportedly halted activities and marketing to Israelis following a request from one of the country’s financial regulators over licensing. According to a Thursday report from Israel-based news outlet Globes, the Capital Market, Insurance and Savings Authority requested Binance provide information on the services it was providing to Israelis as well as any licenses under which it operates. The regulator, responsible for handling licenses for crypto firms, reportedly never received an application from Binance allowing the exchange to do business in Israel. "Following the intervention of the capital market, Binance has at this stage stopped marketing …

As payment methods continue to evolve, new innovations are improving financial infrastructures that have been in use for years. Currently, central bank digital currencies (CBDCs) are a topic that has grabbed the attention of many nations worldwide including the Islamic Republic of Iran. The Middle Eastern nation has faced considerable economic and financial hardships due to sanctions imposed on it by the United States and believes that piloting a CBDC can resolve problems associated with the blockade. Furthermore, some view a CBDC as a potential solution to the country’s perceived corruption problem. Corruption allegations have trailed Iran for decades. The …