UAE Crypto Oasis partners with Swiss Crypto Valley for WEB3FEST 2023 6 day festival between September 12 th -17 th in Zug and Zurich. The Swiss WEB3FEST serves as a testament to their shared vision of ushering in the future of the internet. Crypto Valley, known for its pioneering role in blockchain and decentralized technologies in Switzerland and Lichtenstein, and the Crypto Oasis in MENA, a thriving hub for innovation, growth, and advancement, come together to present an event that encapsulates the essence of Web3. Web3 encapsulates the upcoming phase of the internet, encompassing a spectrum of cutting-edge technologies including AI, Blockchain, Cryptocurrencies, Gaming, Sustainability, IoT, Metaverse, NFTs, and beyond. Ralf Glabischnig, initiator of WEB3FEST, commented: "Our vision for this festival is to combine the exceptional potential of both Crypto Valley and Crypto Oasis. Switzerland is an outstanding location for founders looking to provide a regulatory ...

  IslamicCoin, issued by HAQQ Blockchain ( Haqq means truth in Arabic), which is Shariah compliant has raised another $200 million from Alpha Blue Ocean’s ABO Digital. As such the total funding now stands at $400 million. The founders of Haqq Network include two prominent UAE banking experts. The network aim to cater to the world’s 1.9 billion Muslims. IslamicCoin was presented at the UN’s Cop27 in Egypt and was recognized as the Most Promising ESG Crypto at the Abu Dhabi Blockchain Awards, the Executive Team has received unwavering international support from both private investors, funds as well as the financial world. The latest partnership will entail introducing Islamic Coin to the ABO network of investors and helping the team structure innovative Shariah-compliant financial products that could be used in the digital asset space to raise alternative funding. The deal provides for access to a maximum of $200M as and when required and ensures Islamic Coin has a long and stabl...

  World Economic Forum report entitled “   Pathways to the Regulation of Crypto-Assets”   says UAE crypto asset regulatory framework is an agile one,   defining it as flexible, iterative and proactive which is beneficial because it is flexible, appreciate market maturity and ecosystem development. According to the WEF report, regulators that fall under this model include the Swiss Financial Market Supervisory Authority. FINMA’s token classification prescribes three simple categories: payment tokens, utility tokens and asset tokens. The framework acknowledges hybrid tokens and that a token’s classification may change over time. Following the first classification, FINMA later also published further guidance in Also included as per the report are the regulatory sandboxes in the EU and India in addition to the UAE.  Instead of prescribing and enforcing rules, agile regulation adopts a responsive, iterative approach, acknowledging that policy and regulatory de...

  SwissBorg , a cryptocurrency wealth management app, has launched in the UAE, to offer a secure way to invest and earn interest on assets through Web 3.0. The award-winning app’s formula for mass adoption is two-fold, simplicity and automation, to help anyone regardless of age or skills, become a community member.  As per the press release, SwissBorg brings more than six years of expertise to the UAE, introducing a digital asset management app that takes the guesswork out of crypto investments.   In the first year of its operation, the organization raised $54 million via a successful Initial Coin Offering across 146 countries from 25,000 individual contributors across the globe. The platform has 700,000 active users across multiple countries, having established strong relationships with various banks with fiat gateways for 16 currencies and credit cards.  According to Gemini’s 2022 report ‘Global State of Crypto’, 35% of the UAE population have adopted some form...

  In a recent report published by CoinCub, the UAE ranked 4 th in the third quarter of 2022 as the most favourable crypto economy globally. Germany ranked 1 st place, followed by Switzerland at 2 nd place, then Australia in 3 rd . USA ranked 7 th globally. The crypto economy rankings compiled by Coincub looked into various factors such as favorable crypto outlook, clear crypto tax rules, more transparent regulatory communications and more to rank countries. As per the report, Germany although not a tax haven, is considered one of the strongest all-around ‘traditional-tax’ crypto economies that reward long-term crypto holders. German law charges zero tax on crypto holdings of over a year. Switzerland ranked second with its positive crypto regulatory stance and is home to some of the top crypto organizations in the world. Australia has shown a great appetite for crypto and the government has been equally supportive of it over the past year, pushing positive crypto l...