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Ripple secures Dubai license to offer crypto payments in UAE
Blockchain payment provider Ripple received full regulatory approval from the Dubai Financial Services Authority (DFSA) to offer cross-border crypto payment services in the United Arab Emirates (UAE).
The company announced on March 13 that it had secured its DFSA license, allowing it to operate in the Dubai International Financial Center (DIFC), a UAE free-economic zone with its own tax policies and regulatory framework.
The announcement came almost six months after the company announced its receipt of an in-principle approval of the DFSA license. On Oct. 1, 2024, Ripple revealed that it was working to become licensed by the DFSA as it aimed to roll out its digital asset infrastructure in the UAE.
With this license, Ripple can now provide its global blockchain-based payment solutions to businesses across the UAE. The company said this allows it to cater to financial institutions looking for partners to help them use digital assets in real-world applications.
In a news release sent to Cointelegraph, Ripple CEO Brad Garlinghouse said the UAE is “well-placed” to benefit from tech and crypto innovation, thanks to its early leadership and supportive environment:
“We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption.” Read More
Pakistan eyes blockchain to improve remittance flow and cut costs
Pakistan, one of the top 10 countries for remittances, is exploring blockchain technology to make cross-border transfers faster and more cost-effective, according to Bilal bin Saqib, chief adviser to the finance minister and a member of the newly established Pakistan Crypto Council (PCC).
Overseas Pakistanis sent over $31 billion in remittances through traditional channels in the 2023–24 fiscal year. However, these transfers are often slowed down by intermediaries and come with high fees, which can exceed 5%, Saqib told CoinDesk in an interview.
Remittances – funds that migrants send back home – play a significant role in stabilising Pakistan’s economy. These funds act as a financial cushion during economic downturns and contribute to long-term growth.
Exploring blockchain solutions:
“The PCC will investigate blockchain-based remittance solutions to reduce costs and delays,” Saqib said. “Additionally, we’ll invest in blockchain education, upskilling programs, and Web3 development to cultivate talent, boost employment, and drive economic growth.”
Blockchain technology has the potential to streamline fund transfers by minimising reliance on intermediaries such as correspondent banks. This could dramatically cut down the costs of cross-border transactions, as previously noted by the OECD in a 2020 report. Read More
Coinbase Gets Green Light To Operate in India After Receiving Approval From Regulators
Top US-based crypto exchange Coinbase has received approval from India’s Financial Intelligence Unit (FIU) to resume operations in the country after ceasing activities in early 2023 due to regulatory issues.
According to a Coinbase press release, the approval enables the leading US exchange to offer crypto trading services in one of the world’s fastest-growing digital asset markets – India.
Coinbase has announced plans to introduce retail trading services in the country later this year, followed by additional investment products curated for Indian customers.
Says John O’Loghlen, Coinbase’s Regional Managing Director for Asia-Pacific,
“India’s developer community and entrepreneurial energy are unmatched. But too often, young Indian entrepreneurs have felt forced to look abroad to build global companies. Crypto can change that. By expanding access to our trusted platform and tools such as Base, we aim to empower a new generation of builders to stay home, innovate locally, and scale globally.” Read More
US Lawmaker: Stablecoins Key to Strengthening Dollar's Dominance
A U.S. congressman stressed that a well-regulated stablecoin market is essential for maintaining the dollar’s global dominance, modernizing payments, and expanding financial access without government overreach.
House Financial Services Committee Chairman French Hill (R-AR) stressed that a well-regulated stablecoin market is essential for maintaining the U.S. dollar’s global dominance during a congressional hearing on March 11. The hearing, titled “Navigating the Digital Payments Ecosystem: Examining a Federal Framework for Payment Stablecoins and Consequences of a U.S. Central Bank Digital Currency,” examined how stablecoins can reinforce the dollar’s position in international finance.
The lawmaker asserted:
A properly regulated stablecoin market can strengthen the U.S. dollar’s dominance, modernize our payments infrastructure, and promote financial access without government overreach.
The Committee discussed the STABLE Act, which aims to provide clear regulatory standards for stablecoin issuers while ensuring compliance with financial regulations.
Hill emphasized that stablecoins are already contributing to the dollar’s influence by facilitating global transactions and reducing friction in cross-border payments. Read More
Starknet to settle on Bitcoin and Ethereum to unify the chains
Ethereum layer 2 Starknet is laying the groundwork to settle on Bitcoin and Ethereum to unify the two largest blockchains on a single layer.
The Starknet Foundation said in its March 11 Bitcoin roadmap that it’s aiming for Starknet to become Bitcoin’s execution layer, scaling it from 13 transactions per second to thousands, reducing blocks and gas fees, and creating a better user experience.
“Most Bitcoin today sits static in wallets and exchanges, constrained by the limitations of the network’s original design: a lack of scalability and an inability to natively support applications beyond simple buying, selling, and transferring,” the foundation said.
It added that while some investors view Bitcoin as “digital gold,” it believes “there is a demand for utilizing Bitcoin for purposes beyond that.” Read More
The Markethive R² Principle Explained. Reach and Returns: Subscriptions vs Qualifications
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Markethive is a hybrid platform comprising social media, inbound marketing, and digital broadcasting within a cryptocurrency ecosystem, with many strings to its bow. Markethive operates on a fundamental principle that can be summarized as "Reach and Returns," represented as R².
This dual focus highlights the platform's commitment to providing both extensive marketing and broadcasting capabilities and effective tools and systems for cultivating a strong customer base. This principle is at the core of Markethive's operations, emphasizing the platform's focus on both reaching a broad audience and delivering significant returns on your investment, time, and qualifications.
"Reach" refers to Markethive's capacity to disseminate your message, products, or services to a broad audience. This is achieved through features and strategies designed to maximize visibility and engagement. For instance, our social media integration allows you to reach potential customers across various platforms, and our targeted advertising tools ensure your message is seen by the right audience. All these are made possible through the Markethive a-la-carte subscriptions.
"Returns," on the other hand, signifies the platform's emphasis on generating tangible results from your efforts. By providing tools to attract, nurture, and convert leads into customers and clients, Markethive aims to deliver a substantial return on your investment of time, skills, and resources through the Markethive KEY qualification.
This dual approach ensures that your marketing efforts are far-reaching and impactful, ultimately leading to significant growth and success for your business. Whether you're looking to expand your brand awareness, generate leads, or drive sales, Markethive's R² principle provides a comprehensive framework for achieving your marketing goals and return on investment within the Markethive Ecosystem. Read More
Nigeria’s crypto future: Striking a balance between innovation and regulation
Opinion by: Mohammed Idris, Minister of Information of Nigeria
Nigeria has emerged as one of the most active and dynamic crypto markets in recent years. From bustling tech hubs in Lagos to grassroots communities in smaller cities, young Nigerians have turned to cryptocurrencies to address fundamental economic challenges, from hedging against inflation to accessing global markets in a way traditional finance often does not allow.
As minister of information, I have seen firsthand how digital innovation has become crucial to the Nigerian story. Cryptocurrencies, blockchain technology and other digital assets are no longer on the fringes of our economy; they are fast becoming central to how our people transact, create and build.
This rise in crypto adoption has not, however, come without challenges. Questions around regulation, consumer protection, security and misuse of digital assets have fueled debates in Nigeria and globally. I write to clarify Nigeria’s position: We are committed to fostering an inclusive digital asset ecosystem that is both innovative and responsible.
Nigeria is a crypto hub:
According to several international reports, Nigeria consistently ranks among the top countries in terms of crypto adoption. Our population — over 200 million strong, with a median age under 20 — is naturally inclined toward new technologies. Crypto has become more than a speculative tool; it’s a lifeline for freelancers, small businesses and families receiving remittances. Read More
House Passes Vote to Overturn Biden-Era DeFi Broker Rule
The U.S. House of Representatives voted 292-132 Tuesday to rescind an IRS rule that would have required decentralized finance platforms to collect and report taxpayer information, a crucial bipartisan rebuke of crypto regulations finalized in the waning days of the Biden administration.
Votes came in with 76 Congressional Democrats crossing the floor, backing critics who argued the rule would have imposed technically impossible compliance requirements on DeFi protocols.
This rule is both "unfair" and "unworkable," House Ways and Means Committee Chairman Jason Smith (R-MO) argued on the floor debate. "There are real questions that the rule can ever even be administered."
"DeFi platforms do not and cannot even collect the information from users needed to implement this rule. Their software never controls the digital assets," Smith said in a prepared statement delivered to the House. Read More
ARK Invest's Cathie Wood Predicts End of Rolling Recession Amid Looming AI-Driven Productivity
Cathie Wood foresees 7.3% GDP growth, while claiming the biggest productivity gains in history lie just ahead.
Cathie Wood, the CEO of ARK Invest, believes the U.S. economy is nearing the end of what she calls a "rolling recession”—and is heading toward an unprecedented productivity boom fueled by artificial intelligence and other emerging technologies.
Speaking in her podcast "In the Know", Wood outlined a bullish vision where technological innovation drives real GDP growth to more than double historical rates, even as short-term economic indicators show signs of weakness.
"We're coming to the end of [the rolling recession]," Wood said, referencing the economic downturn she believes has been unfolding since the Federal Reserve began raising interest rates in 2022. "The bad news is we do have to go through this process."
She later said on Twitter that the current crisis (the “process” as referenced in her video) may be the gate to a “deflationary boom” by the second half of 2025. Read More
Crypto scam reporting needs to move ‘under one umbrella’ — Coinbase CSO
The reporting of crypto scams in the United States is currently handled by a patchwork of agencies that should be streamlined to better protect consumers, says Coinbase chief security officer Philip Martin.
“It’s a very fragmented ecosystem. Where do you report these things? Well, you go here, you go there, you go somewhere else,” Martin told Cointelegraph at the SXSW conference in Austin, Texas.
“I’d love to see that addressed and really brought under one umbrella, and that then helps us get a better idea of the magnitude of the problem.”
“That then helps drive resources from the whole federal government to do more to address some of the underlying causes, he added.
The US has dozens of federal and state-level agencies that handle reports of financial and internet crimes, one of which is the FBI’s Internet Crime Complaint Center (IC3), which gives victims a way to report cybercrime.
Martin said that crypto scam victims are reporting to authorities, but it “feels like they’re screaming into the void to like IC3 or some of the government reporting websites.”
He added the various reporting sites should be consolidated “into a single reporting system that not only has all the data in one place but that also, in a perfect world, gives victims some visibility.” Read More
SEC Rethinks Whether to Expand 'Exchange' Definition to Include Crypto: Acting Chair
The Securities and Exchange Commission will assess how a regulatory proposal expanding the definition of an exchange can be modified to exclude entities that facilitate crypto transactions, Acting SEC Chair Mark Uyeda said on Monday.
When the agency first moved in 2020 to establish clearer rules for alternative trading systems, the guidance was intended to mainly impact U.S. Treasury market participants, Uyeda said at an event in Washington, D.C., hosted by the Institute of International Bankers.
Under the leadership of former SEC Chair Gary Gensler, however, Uyeda said that a “vastly expanded definition of an ‘exchange’ would have picked up various protocols used with respect to crypto assets,” requiring them to register with the regulator.
“In my view, it was a mistake for the Commission to link together regulation of the Treasury markets with a heavy-handed attempt to tamp down the crypto market,” Uyeda added.
Uyeda’s comments represent the agency’s latest rebuke of decisions made under Gensler, a crypto skeptic whose actions drew widespread industry condemnation. The former SEC Chair believed that the crypto market must abide by the same rules as other corners of financial markets, yet he raised repeated concerns when it came to crypto firms’ alleged noncompliance. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
