The UAE Central Bank has yet to accept or acknowledge crypto or digital assets as a legal tender in the UAE. The only legal tender in the country is the UAE dirham.. Bloomberg
The UAE Central Bank has yet to accept or acknowledge crypto or digital assets as a legal tender in the UAE. The only legal tender in the country is the UAE dirham.. Bloomberg
The UAE Central Bank has yet to accept or acknowledge crypto or digital assets as a legal tender in the UAE. The only legal tender in the country is the UAE dirham.. Bloomberg
The UAE Central Bank has yet to accept or acknowledge crypto or digital assets as a legal tender in the UAE. The only legal tender in the country is the UAE dirham.. Bloomberg

Crypto-based businesses can set up in DMCC


Jennifer Gnana
  • English
  • Arabic

The Dubai Multi Commodities Centre signed an agreement with the UAE's Securities and Commodities Authority to allow crypto-based businesses to operate from the free zone.

Companies "offering, issuing, listing and trading crypto-assets" can set up their business within the DMCC following the establishment of a regulatory framework between the two entities.

The DMCC's Crypto Centre will offer bespoke licences and a range of incentives to prospective businesses, Ahmed bin Sulayem, executive chairman and chief executive of DMCC, said.

“As we continue to make strides within the crypto and blockchain space, DMCC is making it easier for crypto and blockchain businesses to set up and operate in Dubai," Mr bin Sulayem added.

"Cutting-edge technologies are at the forefront of our strategy and they will play an instrumental role in driving increased trade through Dubai in the future."

The SCA will issue approvals for crypto-related businesses that are looking to set up in the DMCC free zone.

The market regulator will also oversee crypto activities in line with rules issued last year to govern the industry and related activities.

The DMCC, which has various businesses trading in the metals and commodities space, last year launched a blockchain-enabled trading platform for sugar.

The Agriota e-Marketplace, a commodity trading and sourcing platform, will help to bridge the financing gap between rural farmers in India and the food sector in the UAE.

The UAE Central Bank has yet to accept crypto or digital assets as legal tender in the UAE. The only legal tender in the country is the UAE dirham.

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Sheikh Zayed's poem

When it is unveiled at Abu Dhabi Art, the Standing Tall exhibition will appear as an interplay of poetry and art. The 100 scarves are 100 fragments surrounding five, figurative, female sculptures, and both sculptures and scarves are hand-embroidered by a group of refugee women artisans, who used the Palestinian cross-stitch embroidery art of tatreez. Fragments of Sheikh Zayed’s poem Your Love is Ruling My Heart, written in Arabic as a love poem to his nation, are embroidered onto both the sculptures and the scarves. Here is the English translation.

Your love is ruling over my heart

Your love is ruling over my heart, even a mountain can’t bear all of it

Woe for my heart of such a love, if it befell it and made it its home

You came on me like a gleaming sun, you are the cure for my soul of its sickness

Be lenient on me, oh tender one, and have mercy on who because of you is in ruins

You are like the Ajeed Al-reem [leader of the gazelle herd] for my country, the source of all of its knowledge

You waddle even when you stand still, with feet white like the blooming of the dates of the palm

Oh, who wishes to deprive me of sleep, the night has ended and I still have not seen you

You are the cure for my sickness and my support, you dried my throat up let me go and damp it

Help me, oh children of mine, for in his love my life will pass me by. 

THE CLOWN OF GAZA

Director: Abdulrahman Sabbah 

Starring: Alaa Meqdad

Rating: 4/5