Coinatory

UAE’s Fasset Partners with Indonesia’s Kitabisa to Enable Crypto-Based Zakat Payments In an innovative step for Islamic finance, Salam Setara Amil Zakat Institution, a Kitabisa zakat distribution partner, has teamed up with Dubai-based cryptocurrency trading platform Fasset to launch cryptocurrency-based zakat payments in Indonesia. An important step toward incorporating blockchain technology into Islamic generosity has been taken with this effort, which allows Indonesian cryptocurrency users to use USDT (Tether) to satisfy their... cryptonews today

UAE’s $40B Bitcoin Claim Sparks Crypto Debate Changpeng Zhao, founder of Binance, has stirred up a lot of debate on the adoption of cryptocurrencies in the United Arab Emirates (UAE) by bringing up reports that the country has $40 billion worth of Bitcoin. Industry insiders, like cryptocurrency attorney Irina Heaver, were immediately drawn to Zhao's remarks, which were posted in a recent post on X (previously Twitter) and referenced an article that reported the statistic. Heaver cast dou... cryptonews today

UAE Exempts Crypto Transfers and Conversions from Value-Added Tax The United Arab Emirates (UAE) has introduced amendments to its value-added tax (VAT) regulations, exempting cryptocurrency transfers and conversions from VAT. This move aligns the UAE with global crypto-friendly jurisdictions, enhancing its appeal for digital asset transactions. On October 2, the UAE's Federal Tax Authority (FTA) published updates to its VAT rules. As outlined by PwC, a leading business consultancy, the new regulations provi... crypto news today

Saudi Arabian Monetary Agency (SAMA) and the UAE Central Bank (UAECB) launched the joint Aber digital currency, designed to serve as a means of payment in cross-border payments between the two countries. We are talking about an experimental stage at which both central banks intend to study the use of the blockchain in issuing common digital currency for cross-border payments, the central bank of Saudi Arabia said in a statement. The two countries decided to launch a joint project, since each has centralized money transfer and internal transaction systems that have proven to be profitable. However, the statement says that certain aspects of the international money transfer system need further development. SAMA and UAECB agreed that ... Read more about " Saudi Arabia and the UAE launched the digital currency Aber " on coinatory.com

Representatives of the United Arab Emirates (UAE) and Saudi Arabia have announced cooperation in order to create a new cryptocurrency, reports Emirate News Agency. Representatives of both countries discussed the draft joint integrated strategy, including initiatives in such areas as civil aviation, youth financial literacy and the creation of a digital currency for cross-border payments. The cross-border digital currency will be strictly targeted for banks at an experimental phase with the aim of better understanding the implications of Blockchain technology and facilitating cross-border payments. Also in the course of the joint project, the impact of the new cryptocurrency on the financial policies of both countries will be ... Read more about " Riyadh and Abu Dhabi will create a joint cryptocurrency " on coinatory.com

More than 80% of the world"s companies realizing or implemented blockchain projects in varying degrees, with a quarter of them have already launched pilot projects or fully completed their implementation, according to a study by the consulting company PwC. The PwC study "Blockchain is here. What"s your next move? "Is based on a survey of 600 executives from 15 countries and territories: Australia, China, Denmark, France, Germany, Hong Kong, India, Italy, Japan, Netherlands, Singapore, Sweden, UAE, UK and USA. Respondents were asked questions ... Read more about " PwC: More than 80% of companies in the world implement blockchain projects " on coinatory.com

The Dubai Airport Free Zone Authority (DAFZA) announced on Saturday the development of Dubai Blink, the world"s first commercial blockchain platform for free trade zones (FTZs). Dubai Blink allows companies to obtain DAFZA resident status, to interact with other businesses within it and to conduct trade without the need for physical presence in this zone or even in the UAE. The project combines blockchain, artificial intelligence, IoT and a digital licensing system. The main function of the platform is to stimulate trade within the DAFZA. ... Read more about " UAE works on a B2B-based platform for free trade zones " on coinatory.com