TheDinarian
News • Business • Investing & Finance
? The Dinarian on Locals brings you the latest in news, interviews, in-depth conversations, and stories from across the blockchain and global communities—within and beyond cryptocurrency ?. Experts delve into how blockchain technology is reshaping industries, enhancing business networks ?, transforming transaction workflows, and advancing distributed ledger systems ??. We also explore intriguing topics that may venture into the realm of conspiracies—and so much more!
Interested? Want to learn more about the community?
đź’¸Crypto Seeks Freedom in the UAE — is it a Regulatory Rug-Pull?đź’¸

Major crypto companies are flocking to the UAE in hopes of tapping a potentially lucrative market, but a long road still lays before them

The United Arab Emirates (UAE) has become a primary target for plucky crypto businesses seeking to tap a lucrative market — but questions remain as to whether the region will live up to the hype.

Earlier this year, the Emirate of Dubai adopted a new law designed to clarify exactly how local regulators will police the nascent asset class, ushering in leading crypto exchanges including Binance, FTX and Crypto.com.

The law, part of the UAE’s ambitions to become a major crypto hub, proposes legal definitions for digital assets. It establishes a licensing regime and lays out penalties should firms be found operating out-of-bounds.

It also birthed the Virtual Assets Regulatory Authority (VARA), the primary crypto watchdog for Dubai responsible for stamping out money laundering and terrorism financing.

The law does, however, exclude activities within the Dubai International Finance Centre (DIFC), a sort of economic free zone with its own set of digital asset regulations policed by the Dubai Financial Services Authority.

Indeed, the UAE — technically one country — is legally complicated. Dubai is just one of four jurisdictional authorities, including a federal agency.

Abu Dhabi, the capital, touts itself as the world’s first jurisdiction to introduce a “comprehensive and bespoke” regulatory framework for crypto, running parallel to Dubai’s licensing and policing measures.

The region has long had its own set of rules within the Abu Dhabi Global Market (ADGM) — another free zone — via guidance issued under a subsection of the Financial Services and Markets Regulations of 2015, which was later implemented in 2018.

A separate agency, the Financial Services Regulatory Authority, is charged with overseeing digital asset activity within the ADGM.

UAE pushes crypto clarity
Dubai and Abu Dhabi’s frameworks attempt to offer enough clarity for crypto firms to carve a foothold in the Middle East.

“I think the main lure is the perceived ease of getting licensed or regulatory approval to set up a crypto business there,” Adrian Tan, Matrix’s former chief risk officer, told Blockworks in an interview. Matrix became Abu Dhabi’s first regulated virtual asset trading platform almost a year ago.

“Personally, if I were to set up a business there, I would find the various systems and rules difficult and confusing to navigate,” Tan said.

Tan, who has migrated back to his home state of Singapore after spending some time in Abu Dhabi, said it was tricky for crypto businesses to find footing in the UAE, as banks are regulated under various central banking authorities, each with differing regulations.

Crypto-friendly jurisdictions do exist, including Singapore, which is home to numerous prominent crypto exchanges despite Binance’s pullout announced in December. But mostly, they’re exotic tax havens. The Bahamas — where FTX recently pitched a headquarters — as well as the Seychelles and the Cayman Islands are industry favorites.

Those regions all appear to offer friendlier crypto regulation, making for smoother sailing. Yet part of the UAE’s draw, according to crypto industry participants, is that the region offers a prestigious appeal based loosely on the promise of maintaining a clear working relationship with regulators.

When asked whether Dubai would fall short of expectations in years to come — similar to how the nation of Malta had promised much to crypto businesses applying for licenses in 2018 before relegating them to regulatory purgatory — Tan demurred.

“I think it’s still early days to make a call on that. They [Dubai] have announced their intentions just recently and are still in the midst of setting up VARA. So, regulations are less mature which also means less arduous than say Singapore at this time. That’s probably one of the attractions.”

San Francisco-headquartered Kraken, which became Abu Dhabi’s first crypto exchange to receive a Financial Services Permission (FSP) license from the ADGM in April, recently set up an office and team on the ground.

The decision was part of a three-year-long “deliberate choice” as it weighed up various factors, including the region’s regulatory framework and crypto adoption rate, Benjamin Ampen, Kraken’s managing director of MENA, told Blockworks in an interview.

“The Middle East is one of the fastest growing crypto regions in the world. There is clear interest. There is also proof of business,” Ampen said.

Ampen pointed to Emirati state-owned sovereign wealth fund Mubadala and its crypto endeavors in late 2021 as proof of a growing appetite for digital assets. Mubadala’s total assets under management stood at roughly a quarter of a billion dollars by the end of last year.

“We can’t control what a country or regulator does, but having a long-term relationship and years of trust will help,” Ampen said.

VARA isn’t exactly a light touch
Binance and Crypto.com also told Blockworks that conversations with the region’s regulators to date had been amicable and “progressive” as they both seek to fit into the framework initiated in February.

“[The UAE] is looking to make business easier,” a Crypto.com spokesperson said. “It’s an attractive place to live, of course, you know apart from the few sticky months in the summer, but the weather, climate, economy, it’s all been reasonably positive.”

Provisional licenses to operate in Dubai have also been scored by the likes of OKX, Komainu and Huobi. But the term “provisional” means they can’t offer any crypto services just yet.

Tim Buyn, global government relations officer at OKX’s parent firm, said even though VARA has been accessible and open to questions, it doesn’t have a light regulatory touch. “The due diligence process has easily over 100 data items or documents that we need to turn in,” he said, explaining there are steps to the process.

“It means that the regulator is confident enough to proceed, whereas other regulators do not use this framework. They simply wait until they give you the full license,” Buyn, who has held multiple regulatory roles himself for 16 years, added. OKX has about 10 employees in Dubai so far, but it expects to increase that number markedly.

VARA is currently in the process of drafting its full suite of digital asset regulations. These will enable the Dubai World Trade Centre (DWTCA), which aims to become a hub for crypto companies, to issue crypto licenses.

Full licensing is planned to begin at the end of this year, the Centre told Blockworks. So, any exchange that has received provisional approval is effectively stuck until then.

“DWTCA will aim to issue licenses to a wide range of VAs (virtual assets) and VASPs (virtual asset service providers) including digital assets, products, operators and exchanges. The final list of licenses shall be released once the new regulations for VAs and VASPs are finalized,” a spokesperson said.

UAE boasts wealthy investors, Dubai has no crypto taxation
The UAE is among the top 10 richest countries in the world and is estimated to have 92,600 US-dollar millionaires — another lure for crypto firms.

David Maria, head of regulatory affairs at Bittrex, said Dubai’s wealthy customer base is attractive to companies looking for investors or people to utilize their services. “You have a willing customer base that has money to spend and is interested in [crypto] assets, so that’s a very good starting point,” Maria said.

Under policies in the city, investors are also fully exempt from paying taxes on cryptocurrency profits.

But the question of how strict the UAE will be in terms of securities laws still permeates. In the US, a tug-of-war has broken out between the Securities and Exchange Commission and the Commodity and Futures Trading Commission over who gets to regulate cryptoassets.

The issue is less complicated in Dubai, where VARA is the only dedicated regulator overseeing virtual assets. It defines virtual assets broadly — implying that cryptocurrencies, tokens and NFTs come under its ambit.

“It’s a great benefit to have a single regulator and to have explicit regulation,” Maria said, adding that the agency still has a lot more work to do in terms of guidance.

Henri Arslanian, formerly PwC’s global crypto leader, agreed that creation of a crypto-specialized regulator is a huge advantage. Arslanian recently left his role at PwC to set up a Dubai-based digital assets fund called Nine Blocks Capital, which has been granted provisional approval.

“That matters because crypto is so unique as an asset class that you want to deal with regulators who understand it,” Arslanian said, adding that crypto companies have felt welcomed in Dubai unlike in many other locations.

No doubt, with regulatory headwinds persisting elsewhere, the crypto industry writ large is banking on those warm welcomes converting to the freedom of which they’ve sought for years, with few jurisdictions left to explore.

https://blockworks.co/crypto-seeks-freedom-in-the-uae-is-it-a-regulatory-rug-pull/

Interested? Want to learn more about the community?
What else you may like…
Videos
Podcasts
Posts
Articles
đź‘€ Something Historic Just Happened In Colombia

Something historic just happened in Colombia.
An object was recovered, a metallic sphere that defies explanation.

Now it’s the center of an international investigation involving U.S. congressmen, physicists, and Dr. Steven Greer.

The object, called the Buga Sphere, was discovered by a local metal detectorist, Don José.

👉 At first, it weighed 2kg, then 6kg and then 10kg.

The same object, no external changes and weight fluctuations recorded live.

What kind of material behaves like this?

The sphere doesn’t emit radiation, but it does mess with electronics.

People near it reported metallic taste, nausea, and phones going haywire. David Vélez wore an anti-static suit just to touch it.

Not exactly your average scrap metal.

A second sphere showed up in Jumbo, caught on camera by a separate witness.

Same shape, movement, and equatorial line.
Italy’s top UAP analysts reviewed the footage.
The metadata was untouched, it wasn't CGI, it’s real.

Inside the Buga Sphere scientists discovered:

🔹Fused polymers
🔹Optical ...

00:03:33
"The World Order That We Are Coming Into"

If XRP is the neutral bridge for all sovereign currencies, stablecoins, and tokenized assets, then it’s not just facilitating payments, it’s capturing all that value at every level. From smart contracts to tokenized treasuries and digitized assets, XRP forms the foundation and backbone for everything in between.

With cross-border payments representing a multi-trillion-dollar corridor, that’s where the largest capital will flow and the greatest returns will come from.

At this point, you’re the gatekeeper to the digital economy. Everything else follows or fades away once regulations take effect.

You either see it or you won’t until it’s too late.

~The Black Swan Capitalist

00:01:50
Denelle Dixon (Stellar CEO) On Bloomburg 🚀

'Everyone, including Mastercard and Visa, is looking at how this technology can make finance easier for their consumers and their business. I don't think there is going to be a loser, but I do think there will be shake-ups. And ultimately, the consumer is going to win.' - SDF CEO @DenelleDixon on @BloombergTV

00:05:29
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

đź’  'Based Agent' enables creation of custom AI agents
đź’  Users set up personalized agents in < 3 minutes
đź’  Equipped w/ crypto wallet and on-chain functions
đź’  Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading
Bloomberg Analysts Increase XRP ETF Approval Odds to 95%

Key Takeaways:

🔹️Spot XRP ETF approval odds increased by Bloomberg analysts.

🔹️The SEC's positive engagement boosts confidence.

🔹️Ripple market could see significant liquidity influx.

https://aicryptocore.com/bloomberg-xrp-etf-approval-95-percent-odds/

🤔 What Happened To Jed McCaleb, The Co-founder and Chief Architect of the Stellar Development Foundation?

Jed McCaleb, the co-founder and Chief Architect of the Stellar Development Foundation (SDF), remains actively involved with Stellar as of 2025. He continues to serve on the SDF’s board and is recognized as the Chief Architect, helping to guide the technical vision and development of the Stellar network. The SDF, under his and other leaders' guidance, is focused on expanding real-world asset tokenization and aims to power $3 billion in real-world asset value on-chain by the end of 2025.

Beyond Stellar, McCaleb is also known for founding the aerospace company Vast, which is developing artificial gravity space stations; he currently serves as Vast’s chairman and sole funder. According to Forbes, McCaleb’s net worth is estimated at $2.9 billion as of April 2025.

In summary, Jed McCaleb is still deeply engaged with Stellar’s ongoing mission of financial inclusion and blockchain innovation, while also pursuing ambitious projects in the space industry.

https://www.vastspace.com/
...

What Is Stronghold? 🤔

đź‘€ Current Price: $0.01183 đź‘€
👉All Time High: $0.05931

Website: https://stronghold.co/
Whitepaper: https://docsend.com/view/dftxunt
Coin: SHX
Coinmarketcap: https://coinmarketcap.com/currencies/stronghold-token/
Max Supply: 100B SHX
Circulating Supply: 5.79B SHX
Stellar Contract Address: GDSTRSHXHGJ7ZIVRBXEYE5Q74XUVCUSEKEBR7UCHEUUEK72N7I7KJ6JH

👇 How to buy: Swap XLM --> SHX via the StellarX Dex 👇
https://www.stellarx.com/swap/native/SHX:GDSTRSHXHGJ7ZIVRBXEYE5Q74XUVCUSEKEBR7UCHEUUEK72N7I7KJ6JH

post photo preview
Musk Turns On Starlink to Save Iranians from Regime’s Internet Crackdown

Elon Musk, the world’s richest man and a visionary behind SpaceX, has flipped the switch on Starlink, delivering internet to Iranians amid a brutal regime crackdown.

This move comes on the heels of Israeli strikes targeting Iran’s nuclear facilities, as the Islamic Republic cuts off online access.

The former Department of Government Efficiency chief activated Starlink satellite internet service for Iranians on Saturday following the Islamic Republic's decision to impose nationwide internet restrictions.

As the Jerusalem Post reports, that the Islamic Republic’s Communications Ministry announced the move, stating, "In view of the special conditions of the country, temporary restrictions have been imposed on the country’s internet."

This action followed a series of Israeli attacks on Iranian targets.

Starlink, a SpaceX-developed satellite constellation, provides high-speed internet to regions with limited connectivity, such as remote areas or conflict zones.

Elizabeth MacDonald, a Fox News contributor, highlighted its impact, noting, "Elon Musk turning on Starlink for Iran in 2022 was a game changer. Starlink connects directly to SpaceX satellites, bypassing Iran’s ground infrastructure. That means even during government-imposed shutdowns or censorship, users can still get online, and reportedly more than 100,000 inside Iran are doing that."

During the 2022 "Woman, Life, Freedom" protests, Starlink enabled Iranians to communicate and share footage globally despite network blackouts," she added.

MacDonald also mentioned ongoing tests of "direct-to-cell" capabilities, which could allow smartphone connections without a dish, potentially expanding access and supporting free expression and protest coordination.

Musk confirmed the activation, noting on Saturday, "The beams are on."

This follows the regime’s internet shutdowns, which were triggered by Israeli military actions.

Adding to the tension, Israeli Prime Minister Benjamin Netanyahu addressed the Iranian people on Friday, urging resistance against the regime.

"Israel's fight is not against the Iranian people. Our fight is against the murderous Islamic regime that oppresses and impoverishes you,” he said.

Meanwhile, Reza Pahlavi, the exiled son of Iran’s last monarch, called on military and security forces to abandon the regime, accusing Supreme Leader Ayatollah Ali Khamenei in a Persian-language social media post of forcing Iranians into an unwanted war.

Starlink has been a beacon in other crises. Beyond Iran, Musk has leveraged Starlink to assist people during natural disasters and conflicts.

In the wake of hurricanes and earthquakes, Starlink has provided critical internet access to affected communities, enabling emergency communications and coordination.

Similarly, during the Ukraine-Russia conflict, Musk activated Starlink to support Ukrainian forces and civilians, ensuring they could maintain contact and access vital information under dire circumstances.

The genius entrepreneur, is throwing a lifeline to the oppressed in Iran, and the libs can’t stand it.

Conservative talk show host Mark Levin praised Musk’s action, reposting a message stating that Starlink would "reconnect the Iranian people with the internet and put the final nail in the coffin of the Iranian regime."

"God bless you, Elon. The Starlink beams are on in Iran!" Levin wrote.

Musk, who recently stepped down from leading the DOGE in the Trump administration, has apologized to President Trump for past criticisms, including his stance on the One Big Beautiful Bill.

Source

🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

đź”— Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

Read full Article
post photo preview
GENIUS Act lets State banks conduct some business nationwide. Regulators object

The Senate passed the GENIUS Act for stablecoins last week, but significant work remains before it becomes law. The House has a different bill, the STABLE Act, with notable differences that must be reconciled. State banking regulators have raised strong objections to a provision in the GENIUS Act that would allow state banks to operate nationwide without authorization from host states or a federal regulator.

The controversial clause permits a state bank with a regulated stablecoin subsidiary to provide money transmitter and custodial services in any other state. While host states can impose consumer protection laws, they cannot require the usual authorization and oversight typically needed for out-of-state banking operations.

The Conference of State Bank Supervisors welcomed some changes in the GENIUS Act but remains adamantly opposed to this particular provision. In a statement, CSBS said:

“Critical changes must be made during House consideration of the legislation to prevent unintended consequences and further mitigate financial stability risks. CSBS remains concerned with the dramatic and unsupported expansion of the authority of uninsured banks to conduct money transmission or custody activities nationwide without the approval or oversight of host state supervisors (Sec. 16(d)).”

The National Conference of State Legislatures expressed similar concerns in early June, stating:

“We urge you to oppose Section 16(d) and support state authority to regulate financial services in a manner that reflects local conditions, priorities and risk tolerances. Preserving the dual banking system and respecting state autonomy is essential to the safety, soundness and diversity of our nation’s financial sector.”

Evolution of nationwide authorization

Section 16 addresses several issues beyond stablecoins, including preventing a recurrence of the SEC’s SAB 121, which forced crypto assets held in custody onto balance sheets. However, the nationwide authorization subsection was added after the legislation cleared the Senate Banking Committee, with two significant modifications since then.

Originally, the provision applied only to special bank charters like Wyoming’s Special Purpose Depository Institutions or Connecticut’s Innovation Banks. Examples include crypto-focused Custodia Bank and crypto exchange Kraken in Wyoming, plus traditional finance player Fnality US in Connecticut. Recently the scope was expanded to cover most state chartered banks with stablecoin subsidiaries, possibly due to concerns about competitive advantages.

Simultaneously, the clause was substantially tightened. The initial version allowed state chartered banks to provide money transmission and custody services nationwide for any type of asset, which would include cryptocurrencies. Now these activities can only be conducted by the stablecoin subsidiary, and while Section 16(d) doesn’t explicitly limit services to stablecoins, the GENIUS Act currently restricts issuers to stablecoin related activities.

However, the House STABLE Act takes a more permissive approach, allowing regulators to decide which non-stablecoin activities are permitted. If the House version prevails in reconciliation, it could result in a significant expansion of allowed nationwide banking activities beyond stablecoins.

Is it that bad?

As originally drafted, the clause seemed overly permissive.

The amended clause makes sense for stablecoin issuers. They want to have a single regulator and be able to provide the stablecoin services throughout the United States. But it also leans into the perception outside of crypto that this is just another form of regulatory arbitrage.

The controversy over Section 16(d) reflects concerns about creating a regulatory gap that allows banks to operate interstate without the oversight typically required from either federal or state authorities. As the two Congressional chambers work toward reconciliation, lawmakers must decide whether stablecoin legislation should include provisions that effectively reduce traditional banking oversight requirements.

Source

🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

đź”— Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

Read full Article
post photo preview
Dubai regulator VARA classifies RWA issuance as licensed activity
Virtual Asset Regulatory Authority (VARA) leads global regulatory framework - makes RWA issuance licensed activity in Dubai.

Real-world assets (RWAs) issuance is now licensed activity in Dubai.

~ Actual law.
~ Not a legal gray zone.
~ Not a whitepaper fantasy.

RWA issuance and listing on secondary markets is defined under binding crypto regulation.

It’s execution by Dubai.

Irina Heaver explained:

“RWA issuance is no longer theoretical. It’s now a regulatory reality.”

VARA defined:

- RWAs are classified as Asset-Referenced Virtual Assets (ARVAs)

- Secondary market trading is permitted under VARA license

- Issuers need capital, audits, and legal disclosures

- Regulated broker-dealers and exchanges can now onboard and trade them

This closes the gap that killed STOs in 2018.

No more tokenization without venues.
No more assets without liquidity.

UAE is doing what Switzerland, Singapore, and Europe still haven’t:

Creating enforceable frameworks for RWA tokenization that actually work.

Matthew White, CEO of VARA, said it perfectly:

“Tokenization will redefine global finance in 2025.”

He’s not exaggerating.

$500B+ market predicted next year.

And the UAE just gave it legal rails.

~Real estate.
~Private credit.
~Shariah-compliant products.

Everything is in play.

This is how you turn hype into infrastructure.

What Dubai is doing now is 3 years ahead of everyone else.

Founders, investors, ecosystem builders:

You want to build real-world assets onchain.

Don’t waste another year waiting for clarity.

Come to Dubai.

It’s already here.

 

Source

🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

đź”— Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

 

Read full Article
See More
Available on mobile and TV devices
google store google store app store app store
google store google store app tv store app tv store amazon store amazon store roku store roku store
Powered by Locals