Fun

News Feed - 2023-07-28 05:07:46

Ezra Reguerra27 minutes agoCrypto mining hardware retailer Phoenix Technology mulls IPO in UAE: ReportA mainstream media report highlighted that the mining hardware firm Phoenix Technology is planning to go public in Abu Dhabi, UAE.105 Total views1 Total sharesListen to article 0:00NewsJoin us on social networksCrypto mining hardware provider Phoenix Technology is reportedly starting discussions to conduct an initial public offering (IPO) in the United Arab Emirates, according to a report by Bloomber. 


The Bloomberg report cites anonymous sources who explained that discussions around the matter are still ongoing and the details are not yet finalized.


Phoenix Technology is a UAE-based mining operator which is developing one of the largest mining facilities within the Middle East. The company has distribution rights for various tech hardware manufacturers throughout the Middle East, Africa and Turkey. 


Cointelegraph reached out to Phoenix Technology for comments but did not get an immediate response.


The UAE has been one of the most crypto-friendly jurisdictions in the world, constantly trying to provide regulatory clarity by establishing a crypto-dedicated regulator called the Dubai Virtual Asset Regulatory Authority (VARA). Apart from this, an emirate within the UAE called Ras Al Khaimah (RAK) has created a crypto-focused free trade zone called the RAK Digital Assets Oasis, more commonly known as RAK DAO. Today, we approved the virtual assets law and established the Dubai Virtual Assets Regulatory Authority. A step that establishes the UAE’s position in this sector. The Authority will cooperate with all related entities to ensure maximum transparency and security for investors. pic.twitter.com/LuNtuIW8FM— HH Sheikh Mohammed (@HHShkMohd) March 9, 2022


Crypto players operating locally also believe that the UAE’s infrastructure is more business-friendly than the United States when it comes to crypto. In a previous Cointelegraph interview, Crypto Oasis executive Saqr Ereiqat, said that the UAE’s regulatory frameworks are more streamlined compared to the fragmented regulatory environment in the US. 


Related: Ant Group reportedly plans IPO, blockchain firm discloses offer price on Nasdaq


Despite its friendliness toward crypto businesses, the UAE’s crypto regulators are also strict when it comes to submitting requirements and penalizes businesses that aren’t able to comply with its deadlines. On July 11, VARA suspended the license of BitOasis — one of the largest local exchanges in the country and the first to secure an operating license in Dubai. According to VARA, the exchange was not able to meet the deadlines for submitting the mandated requirements by the regulator.


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.


Magazine:Best and worst countries for crypto taxes — plus crypto tax tips# UAE# Business# Dubai# IPOAdd reactionAdd reactionRelated NewsHow to earn passive income with peer-to-peer lendingAI and dot-com bubble share some similarities but differ where it countsWhy is Jerome Powell gaslighting us about the odds of recession?Dubai crypto regulator suspends BitOasis crypto exchange licenseAllowing Coinbase to go public was not a ‘blessing’ from regulators — SECSEC adopts cyberattack disclosure rules, listed crypto firms included

News Feed

Australia poised for ‘inflection point’ of crypto demand — Kraken Aus CEO
Tom Mitchelhill2 hours agoAustralia poised for ‘inflection point’ of crypto demand — Kraken Aus CEOKraken Australia CEO Jonathan Miller said institutional crypto demand is lagging in Australia, but stablecoins and
Memecoins are back? Dogwifhat price rallies 46% in September
Biraajmaan Tamuly8 hours agoMemecoins are back? Dogwifhat price rallies 46% in SeptemberDogwifhat is currently up 30% in the week, but the number of holders has increased by only 1.29% in the same period. 583 Total view
Whales prepare for next altcoin rally, DeFi is ‘waking up’ — Finance Redefined
Zoltan Vardai12 hours agoWhales prepare for next altcoin rally, DeFi is ‘waking up’ — Finance RedefinedCrypto whales are positioning themselves for the next “altcoin season,” while DeFi loans are seeing a resur
Jesse Coghlan7 hours agoGrayscale urges SEC to approve all Bitcoin ETFs simultaneouslyGrayscale’s ETF was previously knocked back by the Securities and Exchange Commission; now the fund manager wants it and competing E
Study Shows the United States Is Home to 41% of the NFT Companies Worldwide
Study Shows the United States Is Home to 41% of the NFT Companies Worldwide According to a study called “A World of NFT Adoption” published by nftclub.com, the United
ZkSync says 695K wallets eligible for next week’s ZK token airdrop
Jesse Coghlan2 hours agoZkSync says 695K wallets eligible for next week’s ZK token airdropThe Ethereum scaling blockchain set aside two-thirds of its 21 billion ZK token supply to give to its community, with select use
MicroStrategy upsizes latest stock sale to $700M to buy more Bitcoin
Josh O"Sullivan10 hours agoMicroStrategy upsizes latest stock sale to $700M to buy more BitcoinMicroStrategy upsizes its convertible senior notes offering to $700 million, earmarking proceeds for Bitcoin purchases and co
Trump crypto venture WLFI a ‘potential pump-and-dump disaster’ 
Daniel Ramirez-Escudero10 hours agoTrump crypto venture WLFI a ‘potential pump-and-dump disaster’ The launch of the Trump family’s World Liberty Financial crypto project during election season carries risks, possi
Second Stimulus Checks: When Direct Payments to Americans Will Come Under Joe Biden
Second Stimulus Checks: When Direct Payments to Americans Will Come Under Joe Biden The outcome of the U.S. presidential election is affecting how fast Americans
Tom Mitchelhill2 hours agoChainlink downplays worries after users notice quiet change to multisigChainlink critics have reiterated concerns about the oracle network’s supposed centralization after a subtle adjustment t
Ukraine President Zelensky Returns Law ‘On Virtual Assets’ to Parliament
Ukraine President Zelensky Returns Law ‘On Virtual Assets’ to Parliament The Ukrainian president has sent the recently adopted law “On Virtual Assets” back to the
Eurosystem Approves New Oversight Framework Concerning Crypto Services
Eurosystem Approves New Oversight Framework Concerning Crypto Services The monetary authority of the euro area, the Eurosystem, has introduced a new framework for overseeing electr