Sui token struggles to regain despite denial of ‘unfounded’ allegations
The price of the SUI token plummeted after allegations of supply manipulation from regulatory officials in South Korea.
The price of the SUI token plummeted after allegations of supply manipulation from regulatory officials in South Korea.
As reported by Cointelegraph: According to the General Manager of Binance's local operation in Dubai, Alex Chehade, the certainty and clarity of regulatory frameworks in the Middle East immensely contribute to drawing in major cryptocurrency exchanges and businesses to the region. The area, including the UAE, Dubai, and Bahrain, has offered a friendly environment for crypto startups and established players due to its regulatory openness. Chehade argued that the Middle East, particularly Dubai with its Virtual Assets Regulatory Authority and Abu Dhabi with its Global Market framework, stands out by offering clear and specific compliance guidelines for virtual assets. Chehade also noted Bahrain's central bank's acceptance of cryptocurrencies. He further stated that many other jurisdictions struggle in this aspect due to lacking the necessary knowledge or capacity to regulate the burgeoning industry effectively. With Binance now employing approximately 600 individuals in its Dubai operation, the company sees itself as a catalyst encouraging Web3 companies to establish a presence in the region. Fostering a "healthy environment with big and small players", the platform continues to operate as a regulated exchange in Dubai segregated from its other global operations. Taking a similar stance, Akshay Chopra, Visa’s vice president, and head of innovation and design, lauded the region's forward-looking perspective on blockchain and crypto solutions. According to Chainalysis, the Middle East and North Africa (MENA) region has become the fastest-growing cryptocurrency market worldwide, with users receiving $566 billion in crypto transactions from July 2021 to June 2022.
The bank deposit insurer should assess the sufficiency of its risk mitigation measures and then provide them in a more organized manner, the inspector general found.
Though the issuance of a digital euro is not a certainty, officials with the European Central Bank are moving to the next phase of the project.
The letter was signed by crypto opponents and many lawmakers who had been neutral on crypto until now.
According to the U.S. Treasury, federally designated terrorist groups including Hamas, ISIS and an al-Qaeda affiliate used the Buy Cash Money and Money Transfer Company to transfer funds.
The mere fact that the Deutsche Bundesbank, BIS and other financial incumbents want such information now suggests a tacit acceptance of crypto.
The UAE, Dubai and Bahrain continue to attract major cryptocurrency exchanges and businesses due to their progressive regulatory approaches.
IMF managing director Kristalina Georgieva says digitalization is “the most important way” to scale up financial inclusion.
The eighth iteration of the Directive on Administrative Cooperation was formally adopted by the Council of the European Union.