BlockByBlock | An Unlikely NFT Catalyst..
$MARA reveals its massive mining operation in the UAE. Crypto exchanges edge closer to full functionality in the UAE. Trump's indictment leads to $4 billion in NFT trading volume.
In This Week’s Issue
⚡ The Central Bank of Bahrain introduces a regulatory framework for digital tokens to strengthen the local crypto assets market.
💸 Marathon Digital Holdings, a NASDAQ-listed crypto mining company that recently opened offices in Dubai, says it will open up two mining sites comprising 250 megawatts in Abu Dhabi.
🌟 Global crypto exchanges Huobi, Bybit, Equiti and OKx move to the minimal viable product (MVP) phase of VARA’s regulatory journey, while crypto.com and Binance move toward a preparatory license.
🕌 BlockByBlock wishes all its readers a hearty Ramadan Kareem. May this be a month of blessings and gratitude for all.
Local Developments
Blockchain Movements In The GCC 👇
The Central Bank of Bahrain introduces a regulatory framework for digital tokens to strengthen the local crypto assets market.
Global crypto exchanges Huobi, Bybit, Equiti and OKx move to the minimal viable product (MVP) phase of VARA’s regulatory journey, while crypto.com and Binance move toward a preparatory license.
Saudi Arabia’s Virtual Assets Program Director says that the Central Bank is looking into a forum that differentiates between virtual assets.
“We endeavor to provide adequate safeguards to investors without inhibiting innovation adoption at the CBB, as we continue to monitor market trends and review the regulatory framework to keep up with the latest developments in the field, as well as maintain the competitiveness of the sector,” said Mrs. Abeer Al Saad, Director of Capital Markets Supervision Directorate at Central Bank of Bahrain.
Around The Block In 60 Seconds
About The Interviewee 🗣️
Athar Jameel Ahmed is the CEO of Legion Network, an all-in-one blockchain application targeting the Metaverse, play-and-earn, watch-and-earn and NFT segments. Legion Network also acts as a gateway to Web 3.0 projects that haven't launched yet.
The company took first place in AgoraGroup’s Xcompetition, a prize that won the company up to $2 million in funding and a trip to an accelerator in Germany.
Startup Action
Updates From The Startup Ecosystem 💸
Marathon Digital Holdings, a NASDAQ-listed crypto mining company that recently opened offices in Dubai, says it will open up two mining sites comprising 250 megawatts in Abu Dhabi.
IR4LAB, a leading Saudi Arabian technology company specializing in blockchain and AI, completes pilot to track Ramadan donations using blockchain.
Blockchain Trends
Global Trends 📉
The price of Trump NFTs pumps after indictment, leading to Q1 trading volume of $4.7 billion.
More than 3,600 Bitcoin ATMs are turned off, the largest monthly decline ever.
The U.S. Commodity Futures Trading Commission files a lawsuit against Binance and Changpeng “CZ” Zhao for failing to register with regulators, noncompliant trading, obscuring the location of its executive offices, and performing unauthorized transactions.
Upcoming Events
Blockchain Events By AgoraGroup 🔴
The Global Blockchain Congress will be hosted by AgoraGroup in London, England, on June 19th and 20th, 2023.
Blockchain Events Across The UAE 🔵
Blockchain Economy will be hosted between October 2nd to October 5th in Dubai, the UAE.
The Future Blockchain Summit will be hosted between October 17th and October 20th in Dubai, the UAE.