Middle East
Abu Dhabi regulator introduces its ‘guiding principles’ for crypto
The Financial Services Regulatory Authority (FSRA), the financial regulator of Abu Dhabi Global Market free economic zone (ADGM), published its “Guiding Principles” on its approach to digital asset regulation and supervision. Friendly in tone to the crypto industry, the principles pledge to comply with international standards in Anti-Money Laundering (AML), combating the financing of terrorism (CFT) and supporting financial sanctions. Five principles were published without date specification on the official webpage of the ADGM. They go under the titles of Internationally Recognised Regulatory Framework, Dynamic and Market-Oriented Regulations, Risk-focused and Proportionate Approach, Cooperation and Shared Responsibility, Delivering High Standards of Quality & Service. Whil...
Amir Khan Claims Oleksandr Usyk Will Weigh In Heavy For Anthony Joshua Rematch
Oleksandr Usyk vs Anthony Joshua 2 is just over a week away, and it looks like the Ukrainian animal will be coming in at a career heaviest weight in Jeddah, Saudi Arabia on August 20th. Rumours are circulating that Oleksandr Usyk could weigh upwards of 250-pounds for his highly anticipated rematch with Anthony Joshua, which would be the heaviest the unified world heavyweight champion will have weighed in at in his professional career by a long stretch. Oleksandr Usyk Set For Career High Weight Former world champion boxer and British boxing icon, Amir Khan, has claimed that Oleksandr Usyk could weigh in as much as a staggering 15 kilograms heavier than when the pair of heavyweights fought first time around in 2021. The Ukrainian former undisputed cruiserweight champion and now the unified h...
Poorest countries in the world – ranked
African nations dominate the ranking of the poorest countries in the world based on the latest data from the World Bank We all have preconceptions about places. Take Ethiopia for example. As children of the eighties, Kia and I were only too aware of the struggles Ethiopia has faced historically: political unrest, civil war and, of course, famine. It was easy then to imagine a vast desolate dust bowl ahead of our visit in 2017. Ethiopia is perceived by many as a representation of wider Africa: still developing, still struggling. In reality, it is a land of lush mountains, dazzling architecture and jaw-dropping natural wonders. There is poverty, but there is also hope. Our visit prompted us to ask if Ethiopia still ranked as one of the poorest countries in the world. Data from the Worl...
Here’s how blockchains are helping to advance the global energy grid
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. Historical Bitcoin network power demand. Source: CCAF 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 in the long term. Here’s a look at several developments that have arisen out of ...
Kraken awarded crypto trading license in the United Arab Emirates
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 the United Arab Emirates region. Citing Dubai’s existing massive trading volumes, lik upwards of $25 billion worth of c...
Law Decoded: Arab States of the Gulf open up to digital asset services, March 14–21
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 Bloom Raskin, President Joe Biden’s pick for the Federal Reserve’s vice chair for supervision, being forced to withdraw her nomination due to a Senate gridlock. Ukrainia...
Binance stopped ‘all activities focused on Israel’ following regulatory request: Report
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 to Israelis and all activities focused on Israel until we examine the issue of licensing,” said the Capit...
Coronavirus: Saudi Arabia suspends UAE flights
Saudi Arabia has suspended flights to three countries, including the neighbouring United Arab Emirates, to protect against a coronavirus variant, the interior ministry said Saturday. The move comes seven weeks after the oil-rich kingdom permitted fully immunised citizens to travel abroad, after a ban on foreign trips that lasted more than a year. The UAE, and especially Dubai, is a key leisure destination for Saudis. Flights to and from the UAE, alongside those to Ethiopia and Vietnam, will be suspended from Sunday, an interior ministry official said, quoted by the state news agency SPA. Saudi citizens and residents returning from these countries will be required to quarantine for 14 days, it added. Citizens would be banned “from travelling directly or indirectly, without obtaining prior p...
Settlers in occupied West Bank agree to evacuate illegal outpost
Israeli settlers who constructed an unapproved outpost near Beita in the occupied West Bank said they have agreed to withdraw from the site. Tensions in the occupied West Bank reached new highs in the past months with the Evyatar settlement being one of the focal points of clashes as settlers refused to evacuate the land and Palestinians demonstrated against their presence. Several Palestinians have been killed and dozens wounded by Israeli forces supporting the illegal settlers. According to a statement on Wednesday by the Samaria Regional Council, a settlers’ organisation, the Israelis are due to leave by Friday following a compromise offered to them by the Israeli government. The Samaria Regional Council also reportedly said the settlement’s structures will not be demolished, but rather...
Ranked: most peaceful countries in the world 2021
The most peaceful countries in the world have been updated for 2021. Read our insights from the study and browse the rankings below Once again, Iceland is the most peaceful country in the world followed by New Zealand, Denmark, Portugal, and Slovenia. However, the world is a less peaceful place as civil unrest and political instability has increased due to the global pandemic according to the latest Global Peace Index (GPI) report. Afghanistan is the least peaceful country in the world for the fourth year in a row, followed by Yemen, Syria, South Sudan, and Iraq. The GPI report is the only statistical measure of its kind and makes it possible to rank 163 independent states based on how peaceful they are. The 163 states cover over 99% of the world’s population and are assessed&nbs...
U.S. blocks websites linked to Iranian disinformation
The U.S. Justice Department on Tuesday blocked some three dozen websites, many of them associated with Iranian disinformation activities, a U.S. government source said, adding an official announcement was expected. The source in Washington spoke after notices appeared earlier on Tuesday on a number of Iran-affiliated websites saying they had been seized by the United States government as part of law enforcement action. Iranian news agencies said that the U.S. government had seized several Iranian media websites and sites belonging to groups affiliated with Iran such as Yemen’s Houthi movement. Some sites later started to display as normal. The website of the Arabic-language Masirah TV, which is run by the Houthis, read: “The domain almasirah.net has been seized by the United States Governm...
Hamas official predicts ceasefire soon in Israel-Gaza conflict
A senior Hamas official predicted a ceasefire within days in the Israel-Gaza conflict, after U.S. President Joe Biden urged Israeli Prime Minister Benjamin Netanyahu to seek a “de-escalation” in the fighting. Rocket fire into Israel died down overnight, a lull that stretched into Thursday morning. Israel was launching new air strikes in Gaza after daybreak, but, Israeli media said, at a slower pace than in past days. An Egyptian security source said the sides had agreed in principle to a ceasefire after help from mediators but details were still being negotiated in secret. “I think that the ongoing efforts regarding the ceasefire will succeed,” the Hamas political official, Moussa Abu Marzouk, told Lebanon’s al-Mayadeen TV. “I expect a ceasefire to be reached within a day or two, and the c...
