Prosper for Bitcoin mining is Hashrate sponsor of Bitcoin MENA in UAE

Prosper for Bitcoin mining is Hashrate sponsor of Bitcoin MENA in UAE

Prosper, a decentralized protocol offering institutional-grade Bitcoin mining power on-chain, has announced that it is the official Hashrate Sponsor for Bitcoin MENA 2024. The highly anticipated conference will take place on December 9-10, 2024, at the iconic Abu Dhabi National Exhibition Centre (ADNEC), bringing together industry experts and key players from the global Bitcoin ecosystem and the wider crypto industry.

As the official Hashrate Sponsor, Prosper will feature prominently at the event and host an interactive booth where attendees can engage directly with its team and explore how Prosper is setting the standard for institutional-grade Bitcoin mining power on-chain, further unlocking Bitcoin’s full potential as the most decentralized cryptocurrency.

“As one of the most innovative community-focused projects under Animoca Brands, we are excited to showcase our unique offering at this year’s Bitcoin MENA event which aligns perfectly with our mission to democratize access to Bitcoin and its mining power,” said Milton Lam, Advisory Council Member & Launch Partner, Prosper. “Our participation underscores our leadership in institutional-grade Bitcoin mining innovation, advancing the possibilities of the world’s original and most decentralized cryptocurrency.”

Bitcoin MENA 2024 will bring together global leaders and influential voices, including Eric Trump, Prince Filip of Serbia and Saifedean Ammous, to shape the conversation on Bitcoin’s future.

Eric Trump, Executive Vice President of the Trump Organization, will deliver a keynote address at Bitcoin MENA 2024, marking a significant milestone for the event. His participation brings a wealth of business acumen and leadership experience to discussions on Bitcoin’s growing adoption in the Middle East. Following Donald J. Trump’s appearance at Bitcoin 2024 in Nashville this July, the Trump family’s growing support for Bitcoin as a solution to combat inflation in the U.S. underscores the event’s importance.

Other notable attendees include Prince Filip of Serbia, Saifedean Ammous, author of The Bitcoin Standard and Abdulla Al Dhaheri of the Blockchain Centre Abu Dhabi. Their involvement highlights Bitcoin MENA’s influence and Abu Dhabi’s emerging role as a central hub in the global Bitcoin economy.

Central Bank of Iran announces regulation for crypto exchanges and custodians

Central Bank of Iran announces regulation for crypto exchanges and custodians

Iran’s Minister of Economic Affairs and Finance Abdolnaser Hemmati has announced at an event on digital currencies in Tehran that the government intends to regulate digital currencies and cryptocurrencies instead of putting limitations on them, as the Central Bank of Iran announced the regulation of crypto exchanges and crypto custodians under its new crypto framework.

Hemmati said that Iran is moving towards regulating and eliminating the adverse effects of digital currency on the economy and instead using its positive effects. He cited the advantages and progress of digital currency as the reasons behind the decision.

While Hemmati noted that digital money, including digital currencies is within the scope of the Central Bank of Iran, he believes that developing and growth this asset sector will bring on youth employment, as well as to help nullify the effect of sanctions.

At the same event, The Central Bank of Iran (CBI) recently approved a “Policy and Regulatory Framework for Cryptocurrencies”, reaffirming its role as the primary regulator. The framework emphasizes licensing crypto brokers and custodians under CBI supervision while ensuring compliance with anti-money laundering (AML) laws, counter-terrorism financing (CTF) regulations, and tax obligations.

The Central Bank of Iran Governor Mohammadreza Farzin highlighted collaboration with other agencies, such as the Ministry of Economic Affairs and Finance, to develop robust regulatory mechanisms for the digital asset ecosystem.

According to the official, the mentioned framework focuses on active regulation and leveraging digital currencies’ economic potential.

In 2018, Iran banned trading and possession of cryptocurrency due to money laundering and terrorism financing concerns. [1] All Iranian financial institutions, such as banks, credit institutions, and currency exchanges, were banned from handling cryptocurrencies or promoting them in any way. [2] In 2019, however, the government began to roll back this ban as sanctions were crippling their local currency. Cryptocurrency was seen as a possible relief from reliance on the United States dollar. [3] The Central Bank of Iran’s new regulations allow for the possession and mining of cryptocurrency but still included a ban on using digital currency as a payment system. [4] Further, “it bars Iranians from holding large amounts of global cryptocurrencies in the same way they are officially prohibited from holding more than 10,000 euros.” [5] Towards the end of 2020, the Iranian government once again began exploring the possibility of reimplementing more controls on cryptocurrency as the price of Bitcoin was soaring, and the Iranian stock market and currency were severely falling. [6] The only change that has happened to the regulations so far is more restrictions on cryptocurrency miners due to heavy energy usage. [7]

The Global AI Show debuts in Dubai on December 12th

The Global AI Show debuts in Dubai on December 12th

The future is powered by AI, and the Global AI Show is your gateway to exploring its limitless potential! Taking place in Dubai on December 12-13, 2024, this AI conference invites you to meet the top 1% in AI and engage with the brightest minds shaping the future.

Join 3,000+ C-Suite, as well as 200+ startups and 75+ speakers from across the globe, at UAE’s #1 AI event for CXOs. Together, we’ll dive into the most transformative AI applications across various industries:

  • Healthcare: Learn how AI is revolutionizing medical diagnosis, treatment, and personalized care.
  • Customer Experience: Discover AI-powered solutions to enhance interactions and customer satisfaction.
  • Fintech: Explore cutting-edge AI technologies driving the future of banking, payments, and risk management.
  • Cybersecurity: Strengthen defenses against evolving cyber threats with AI-driven innovations.
  • Supply Chain & Logistics: Understand how AI optimizes processes, reduces costs, and improves supply chain efficiency.
  • Intelligent Data & Analytics: Unlock actionable insights with AI-driven data analysis and decision-making tools.
  • AI in 2057 – Future Frontiers: Explore the new frontiers of AI, pushing the boundaries of innovation and shaping the world of tomorrow.

Event Highlights:

  • Meet the Top 1% in AI: Gain valuable insights from 90+ hours of 100% CXO keynotes and 75 headline hacks delivered by AI experts.
  • Roadmap Your Intelligent Future: Connect with sovereign wealth funds, family offices, and investors shaping the AI landscape.
  • UAE’s Vision for AI Excellence: Get an exclusive look at Dubai’s AI blueprint and explore the investment opportunities revealed at AI 2057.
  • Networking Opportunities: Engage with 3000+ stakeholders and be part of a global community of 110k+ AI professionals.

Featured Speakers:

  • H.E. Dr. Mohammed Al Kuwaiti, Head of Cybersecurity Council, UAE Government
  • Lt. Col. Dr. Essa Almutawa, Chief Artificial Intelligence Officer, Dubai Civil Defense
  • Hoda Al Khazaimi, Co-Chair, Global Future Council, World Economic Forum
  • Saqr Alhemeiri, Chief Innovation Officer, Ministry of Health and Prevention – UAE
  • Mohamed El Sabbagh, CTO, Abu Dhabi Chamber of Commerce & Industry
  • Veneeth Purushothaman, Group CIO, Aster DM Healthcare
  • Anshu Raja Sharma, Chief Transformation Technology Operations Officer, Standard Chartered
  • Dinesh Dua, Chief Customer Experience Officer, Sobha Realty
  • Dongjun Choi, Chief Customer Officer, RAKBANK
  • Dr. Dirk Jungnickel, SVP Enterprise & Analytics & Intelligence, Emirates Group

To view the full list of speakers, Click Here.

Who Should Attend?
Whether you’re a CXO, researcher, entrepreneur, or AI enthusiast, the Global AI Show is designed to equip you with the knowledge and connections needed to meet the future head-on. This is where tomorrow happens today.

Don’t miss this groundbreaking event! Book your tickets now at Global AI Show Tickets and secure your spot at the forefront of AI innovation.

For any further information, feel free to contact us at contact@globalaishow.com.

Global Blockchain show is covering Web3, Crypto mining, and AI in UAE

Global Blockchain show is covering Web3, Crypto mining, and AI in UAE

Join the Global Blockchain Show: The Ultimate Blockchain Season Finale!

Welcome to the Global Blockchain Show, the Web3 Founders’ Festival set to unite industry leaders, developers, and blockchain enthusiasts from around the world. Taking place in the vibrant city of Dubai on 12-13 December 2024, this event will immerse you in the future of blockchain with 16 hours of unplugged networking, discussions, and collaboration with Web3’s top 1%.

This year’s show is more than just a conference – it’s a festival including the best minds in Web3. With 3000+ Web3 Founders, 75+ industry icons, 200+ startups, and 100+ of the most sought-after investors, you’ll be part of something truly exceptional.

Our agenda covers a wide range of trending topics across various verticals, including:

  • Web3 Gaming: Explore the future of gaming in the decentralized web.
  • Digital Currency: Understand the evolving landscape of digital financial systems.
  • Blockchain Regulations: Gain insights into the regulatory frameworks shaping the blockchain industry.
  • Crypto Mining & Trading: Learn from experts about the latest strategies and technologies in cryptocurrency mining and trading.
  • Web3 Security: Discover cutting-edge security measures to protect decentralized applications and platforms.
  • Integration of AI & Blockchain: Examine how artificial intelligence and blockchain are converging to create innovative solutions.
  • Crypto Collectibles: Dive into the world of NFTs and other digital collectibles.

The Global Blockchain Show provides an unparalleled opportunity to network in an unhinged, informal setting with top professionals from sectors such as startups, corporations, solution providers, and investors.

Event Highlights:

  • Meet the top 1% in Web3 during a 16-hour mixer
  • 200+ of the top 1% Web3 Startups showcasing their innovations
  • 100+ of the most influential Web3 investors ready to connect, and with buying intent

Top Speakers Include:

  • Yat Siu: Co-Founder and Chairman, Animoca Brands
  • Rachel Conlan: Global Chief Marketing Officer, Binance
  • H.E. Justin Sun: Founder of TRON, Member of the HTX Global Advisory Board
  • Marcello Mari: CEO & Founder of SingularityDAO
  • Alicia Kao: Managing Director, Kucoin
  • David Palmer: Chief Product Officer, Co-founder, Vodafone
  • Vivien Lin: Head of BingX Labs, BingX
  • Jason Allegrante: Chief Legal & Compliance Officer, Fireblocks
  • Dr. Sameer Al Ansari: CEO, RAK DAO
  • Pierre Samaties: Chief Business Officer, DFINITY
  • Alex Fazel: Chief Partnership Officer, Swissborg

To View the Full List of Speakers – Click Here

Who Should Attend? 

Whether you’re an entrepreneur, investor, developer, researcher, or simply passionate about Web3, this event is for you. If you’re looking to explore opportunities, gain cutting-edge insights, or connect with like-minded individuals shaping the future of blockchain, the Global Blockchain Show in Dubai is the place to be.

Don’t miss the chance to be part of this revolutionary event.

For more information and to secure your ticket, visit: https://www.globalblockchainshow.com/tickets/

UK based House of Emirates tokenizes the UAE’s first dirham for $1 million

UK based House of Emirates tokenizes the UAE’s first dirham for $1 million

The House of Emirates, a UK based collector entity, specializing in ethereal jewellery, eternal treasures, splendid art, rare coins, and royal gifts has announced that it has tokenized for the first UAE Dirham tender coin minted in 1973.

As per the X post, ” House of Emirates is so thrilled to offer its elite clientele the FIRST EVER tokenized first UAE legal tender coin ( Dirham ) minted in 1973. This exceptional coin of a great historical significance was the first ever currency for the newly formed country. This historical decision to issue a united currency was ordained by the visionary founder of the UAE, HH Sheikh Zayed Ben Sultan Alnahyan. Now you can own this magnificent coin physically and on the blockchain at the same time.”

The coin was tokenized on the Galileo Protocol. Galileo is developing the world’s first platform and ecosystem for the tokenization and redemption of physical assets. Tokenization involves representing real-world assets as digital tokens on a blockchain, enabling secure and transparent exchange and transfer.

Using blockchain, Galileo’s platform offers solutions for tokenizing physical assets such as real estate, artwork, collectible cars, precious metals, and more. It allows asset owners to convert these assets into tokens, making it easier to divide them into fractions, trade them, and increase their liquidity.

Galileo’s ecosystem also includes asset custody infrastructure, ensuring the secure storage of the underlying physical assets. Owners can store their assets in certified and audited vaults, benefiting from a secure and regulated storage solution.

After takeover by Scintilla, registered crypto exchange TOKO rebrands in Dubai

After takeover by Scintilla, registered crypto exchange TOKO rebrands in Dubai

Scintilla, a platform delivering onchain solutions has bought out TOKO FZE registered and licensed out of Dubai UAE by VARA ( Virtual assets regulatory authority) as a crypto exchange and broker.

Originally developed within DLA Piper’s Law& innovation portfolio, the former TOKO brand has evolved into Scintilla with a fresh identity, new leadership, and groundbreaking product offerings.

Scintilla offers a range of tokenization services that bring liquidity, transparency, and efficiency to traditional financial sectors. By enabling the tokenization of various financial products, real estate, and new legal funding instruments, Scintilla empowers investors to access previously untapped and illiquid asset classes, fostering inclusivity and transforming how the world invests.

Advisory Services:
The gateway to successful market entry. From initial opportunity assessment to strategic development of game-changing tokenization-based solutions.
Use Case Development:
Bringing products to life. From initial POC development and iteration towards MVP all the way through to the full market launch.
Broker/Dealer Services:
Creating new markets. Regulated primary market trading, ensuring the highest levels of trust and security within the tokenization space.
Exchange Services:
Universal participation. Seamless, secure secondary trading of tokenized assets, with industry-leading technology and compliance standards.

“Our relaunch marks the beginning of an exciting new chapter for Scintilla and the wider industry. We are committed to pushing the boundaries of what is possible in digital finance while ensuring our solutions are underpinned by strong regulatory compliance,” said Tim Popplewell, CEO of Scintilla. “With our new suite of products and services, we are empowering investors to transform the way they manage and access value.”

Jean-Pierre Douglas-Henry, Managing Director, Sustainability and Resilience at DLA Piper, added, “Innovation is a key strand in our business strategy. As our business focuses on developing and nurturing innovations that add significant value to our clients through our Law& innovation program, it is fantastic to see this solution spun out into the thriving digital asset space for the next stage of its growth and development.”

Moroccan authorities make arrests for crypto fraud operation

Moroccan authorities make arrests for crypto fraud operation

Moroccan authorities have arrested five individuals in connection with an alleged cryptocurrency fraud operation.

The suspects, aged between 24 and 48, were detained earlier this week in Salé, following a complaint received through international law enforcement cooperation channels.

As per the news on Hespress, they are suspected of being involved in a phishing scam that targeted foreign citizens by sending malicious emails. The emails were designed to steal the victims’ digital wallet information containing cryptocurrency, which was then converted into cash via their personal bank accounts.

During the investigation, police seized a sum of money believed to be linked to the criminal activities, along with electronic devices, including a computer and mobile phones, which may contain digital evidence of the hacking operations.

The suspects are currently being held in police custody as part of a preliminary investigation, overseen by the public prosecutor’s office, to uncover the full details of the case and identify all individuals involved in the criminal network.

In April 2024 a 21-year-old Frenchman, Thomas Clausi, was convicted Thursday in Morocco of “fraud” and illegal use of cryptocurrency and sentenced to 18 months in prison.

He was also slapped with a fine of about 3.4 million euros.

Incarcerated since December 23, 2021, Clausi, who presented himself as an entrepreneur before the judge, appeared before the criminal chamber of the court of Casablanca, competent for criminal cases.

He was accused of “fraud” and “payment with foreign currency on Moroccan territory”, in particular for having used bitcoins to buy a luxury car.

This comes a week after the Central Bank governor in Morocco stated that the crypto regulations will soon be out and are currently being adopted.

UK National Crime Agency disrupts multi billion dollar laundering network

UK National Crime Agency disrupts multi billion dollar laundering network

The United Kingdom’s National Crime Agency (NCA) disrupted a multi-billion dollar money laundering network, which provided services to a wide range of illicit actors, including Russian and international elites, cybercriminals, and drug gangs.

The NCA’s efforts, named “Operation Destabilise,” identified two Russian-speaking networks (Smart and TGR) leading these operations, which have thus far led to 84 arrests of individuals linked to these groups and the seizure of more than 20 million Euros in cash and cryptocurrency.

Today’s disruption was an internationally-coordinated effort, involving organizations including the U.K. Metropolitan Police Service, France’s Direction Centrale de la Police Judiciaire, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC), the Drug Enforcement Agency (DEA), and the Federal Bureau of Investigation (FBI), among others. This collaboration led to the arrest of another individual linked to Smart and TGR who facilitated global money laundering.

Additionally, OFAC sanctioned four entities and five individuals associated with TGR; OFAC included cryptocurrency addresses for two of the individuals:

George Rossi (AKA Maksakov, Yury, Georgy Rossi, or Heorhii Rossi): A Ukrainian national who founded TGR Partners, is the director of TGR Corporate Concierge LTD, and likely controls the TGR Group.
Elena Chirkinyan (AKA Yelena Norayrovna Chirkinyan or “Elle”): A Russian national who is Rossi’s direct subordinate, a partner at TGR Partners, the CEO of TGR Corporate Concierge LTD, and the manager of TGR DWC-LLC.
Andrejs Bradens (AKA Andrejs Carenoks): A Latvian national associated with several TGR networks.
Nikita Vladimirovich Krasnov (AKA “ACESCOM”): A Russian national who laundered cash and cryptocurrency on behalf of elite clients.
Khadzhi Murat Dalgatovich Magomedov (AKA Magomedov or Murat): A Russian national who laundered cash and cryptocurrency on behalf of elite clients.
TGR Partners: A Moscow-based organization founded by Rossi that provided services to a wide range of illicit actors, such as cryptocurrency trading, foreign exchange payments, and concierge services.
TGR Corporate Concierge LTD: A U.K.-based network controlled by Bradens. Chirkinyan is its CEO.
TGR DWC-LLC: A UAE-based network operated by Chirkinyan that provided services to help elites obscure the source of ill-gotten funds.
Siam Expert Trading Company Limited: A Thailand-based network associated with Bradens.
Pullman Global Solutions LLC (Pullman Global): A Wyoming-based organization owned by Bradens.
The cryptocurrency addresses in OFAC’s designation include a deposit address for Chirkinyan at a mainstream exchange (TDdbRFoBTEmE3qiR69Y6rKRSG1hoF65QaE) that has received over $146,000, and a high-volume wallet controlled by Magomedov (0x1999ef52700c34de7ec2b68a28aafb37db0c5ade) that has processed more than $200 million. The wallets have received high-value transfers, reflecting bulk cash transfers and transactions conducted on behalf of TGR clients.

Operation Destabilise determined that Smart, TGR, and their related networks often transferred money across borders by swapping cash and cryptocurrency. In some instances, Smart and TGR would receive funds in crypto from a client, facilitate a transfer in cash, and take a percentage of the amount. They would also follow a similar process in reverse, exchanging cash for crypto. It was unlikely that these clients would overlap, given that Smart and TGR were operating across 30 countries, and used a network of international controllers and couriers to actually perform the handovers.

The NCA also detailed that Smart and TGR provided illicit financial services on the streets in the U.K. to traditional crime groups by exchanging their cash proceeds for crypto, which they then used to further their criminal activities by paying for drugs to international cartels. Unfortunately, these networks enable serious crime in the U.K. and other countries, which threatens the country’s financial integrity and, in many cases, results in physical violence.

VARA the virtual asset regulatory authority in Dubai issues alerts for seven crypto entities

VARA the virtual asset regulatory authority in Dubai issues alerts for seven crypto entities

Dubai’s Virtual Assets Regulatory Authority (VARA) has issued alerts for seven crypto entities claiming to be registered and licensed in Dubai. The entities include, Koto Crypto, Finchain, Crypto Force, Coin Cashy, BTC Bay, XT, and Stabit.

The first entity is Koto Crypto based out of DMCC (Dubai Multi Commodities Center). As per VARA the company which claims to be registered in Dubai UAE, is carrying out non regulated virtual asset activities operating without a proper license.

As per the notice, “Any activities related to virtual assets conducted on this platform are therefore not in compliance with VARA Regulations. Engaging with unlicensed platforms that are not in compliance with VARA Regulations exposes users to significant financial risks and potential legal consequences for violating regulatory requirements, or criminal laws.”

The same applies to Finchain Payment Service Provider L.L.C. and Finchain Technologies DMCC also claiming to be registered out of DMCC. On checking FinChain website, it is no longer operational, claiming they are undergoing maintenance.

Also mentioned is Crypto Force registered as well in DMCC, which is conducting un-regulated virtual asset activities.

In addition VARA issued alerts for Coin Cashy, BTC Bay, whose website is also no longer active, as well as XT.Com crypto exchange which was recently hacked.

XT.com is a centralized cryptocurrency exchange established in 2018 and is registered in the Seychelles. The exchange facilitates trading of more than 1,000 digital currencies, with daily trading volumes of around $3.4 billion.

As for the 7th crypto entity put under alert status is Stabit, associated to Genesis Digital Assets Commercial Brokers Co. L.L.C, also offering un-regulated crypto trading services.

All these entities are unlicensed as per VARA and as such are not operating legally in the jurisdiction.  As such any promotion, advertising, or solicitation related to these seven entities has not been approved by VARA, and the platform is therefore prohibited from offering, promoting, or marketing any Virtual Asset products or services in Dubai or to its residents.

VARA advised investors and consumers to avoid using them and to exercise caution when considering interactions with unregulated platforms.

The regulator also notified users that access to these websites might be restricted without prior notice. As per the regulator, “It is recommended to take immediate necessary measures to ensure protection of user assets.

The alerts come after VARA has announced in October that it issued cease-and-desist orders, along with accompanying fines, to 7 entities for operating without the required licenses and for breaching marketing regulations.

Crypto.com and MasterCard partner to issue cards in Bahrain

Crypto.com and MasterCard partner to issue cards in Bahrain

Crypto.com which recently secured a crypto payment service provider license in Bahrain has now partnered with Mastercard to directly issue cards on Mastercard’s network. It is a principal license that allows Crypto.com to launch a card in Bahrain powered by Mastercard.

As per the press release, the new program will leverage Mastercard’s trusted, scalable and secure payments network to enable the crypto exchange customers to use their card at over 150 million in-store and online locations worldwide. Users can easily fund their cards through the Crypto.com app using e-money wallets or third party-issued credit and debit cards.

The innovative payment product will be available across all five Crypto.com card tiers, including Black Obsidian, offering rewards up to 8% on spending and will be denominated in USD.

“We’re really proud to be partnering with Mastercard, a global technology leader in the payments industry, and utilising our recently issued Payment Service Provider licence from the Central Bank of Bahrain to launch our world-renowned prepaid card to our users in Bahrain and beyond,” said Karl Mohan, General Manager APAC & MEA of Crypto.com. “Mastercard has shown its support for the digital assets industry by creating a robust card programme service that’s specifically tailored for our customers, allowing us to expand our product offering into new markets whilst proving our continued commitment to the highest levels of security and compliance.”

“We are delighted to welcome Crypto.com as a Mastercard Principal Member. The programme provides a wide range of benefits and opportunities beyond the direct issuance of Mastercards. Crypto.com will now have access to our global network, enabling transactions wherever Mastercard is accepted, our innovative payment solutions powered by cutting-edge technology, and our comprehensive tools for enhancing transaction security and fraud protection,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.

According to Eric Anziani, President and Chief Operating Officer at Crypto.com on LinkedIn, “We launched our first card in Bahrain, with plans to expand to other eligible GCC markets soon!”

Prior to this Crypto.com and Bahrain based BENEFIT, a FinTech and electronic financial transactions services signed an MOU ( Memorandum of Understanding) to combine their expertise and help expand the digital assets and fintech ecosystem in Bahrain including areas such as payment integration and prepaid card capabilities.

The crypto exchange even partnered with Bahrain based Beyon Monay, to enhance transaction solutions and explore innovative opportunities in digital payments and AI.