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UAE regulators to allow Dubai-licensed VASPs to service entire country

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United Arab Emirates (UAE) regulators have announced that the license granted to Virtual Asset Service Providers (VASPs) in Dubai will now apply nationwide. This significant regulatory update aims to streamline and standardize the oversight of digital asset services across the entire country.

The decision marks a pivotal shift in the UAE’s approach to regulating the virtual asset sector, reflecting the country’s commitment to fostering a secure and regulated environment for digital finance. Previously, VASP licenses were specific to Dubai, but the new policy will extend regulatory oversight to all UAE jurisdictions.

The move is expected to enhance consistency in regulatory practices and provide clearer guidelines for VASPs operating across the UAE. It also aims to bolster investor confidence by ensuring that digital asset services adhere to robust regulatory standards nationwide.

A spokesperson for the UAE’s financial regulatory authority stated, “By extending the Dubai VASP license to cover the entire country, we are reinforcing our commitment to creating a cohesive and secure framework for virtual asset activities. This initiative will help streamline regulatory processes and provide greater clarity for businesses and investors.”

The extension of the VASP license aligns with the UAE’s broader strategy to position itself as a leading hub for digital assets and financial technology. The regulatory update is part of ongoing efforts to enhance the country’s competitive edge in the global digital economy while ensuring high standards of security and compliance.

VASPs across the UAE will now need to comply with unified regulatory requirements, which are designed to address emerging risks and protect market participants. The new framework aims to balance innovation with regulatory oversight, promoting a safe and transparent digital asset environment.

Industry observers view the extension of the Dubai VASP license as a progressive step towards harmonizing cryptocurrency regulation and supporting the growth of the virtual asset sector. The move is expected to attract more international digital asset firms to the UAE, further solidifying the country’s position as a key player in the global cryptocurrency market.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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