Die südafrikanische Zentralbank reguliert Kryptowährungen als Finanzanlagen und in den nächsten 12 Monaten sollen dafür neue Gesetze herauskommen.
OKX baut Dienstleistungsangebot in Dubai dank vorläufiger Lizenz aus
Mit der VARA-Lizenz kann die OKX ein umfangreiches Dienstleistungsangebot in der VAE anbieten und sich umso besser in das regionale Ökosystem integrieren.
Cryptocurrency exchange OKX gains approval to operate in Dubai
Dubai is becoming one of the most favourable destinations for cryptocurrency companies.
OKX, one of the leading cryptocurrency exchanges in the world, announced on Thursday, July 14th, that it had gained approval to operate in Dubai, the United Arabs Emirate.
According to its press release today, OKX said it had been granted a provisional virtual assets (VA) license to provide services to qualified investors in the UAE.
The licence was issued by the Dubai Virtual Assets Regulatory Authority (VARA), allowing the exchange to provide certain exchange products and services to pre-qualified investors and financial service providers within the UAE.
The cryptocurrency exchange added that it would also establish a regional hub in Dubai to contribute to developing the ever-expanding virtual asset ecosystem within the region.
Lennix Lai, General Manager, OKX Dubai, commented on this latest development, stating that;
“The MENA region is one of the fastest growing markets for our industry, and we are very excited to be at the heart of this thriving ecosystem. OKX looks forward to contributing meaningfully to the free exchange of ideas that will be so important to the development of this space while innovating for the future in a regulated framework.”
OKX has become one of the leading cryptocurrency exchanges in the world and continues to build despite the ongoing bear market.
Tim Byun, Global Government Relations Officer, OK Group, said the company is excited to expand its reach to the UAE. he stated that;
“Dubai is a pioneer when it comes to regulation of the virtual assets sector, and it is swiftly becoming one of the top global hubs for the industry. We at OKX are thrilled to be participating in the sound compliance framework that Dubai’s Virtual Assets Regulatory Authority has established, and which reflects the UAE’s leadership as far as nurturing the global economy of the future.”
Thanks to this latest development, OKX said it would be participating in the VARA regulatory ecosystem. The crypto exchange will help by facilitating research and knowledge sharing with the goal of making Dubai a leading hub for the global virtual assets industry.
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„Heuchlerei“ im Ripple-Prozess: Richterin lehnt SEC-Antrag auf Geheimhaltung der Hinman-Rede ab
Die SEC argumentierte, die Dokumente sollten unter Verschluss bleiben, weil die Rede von Hinman eine „rein persönliche Angelegenheit“ gewesen sei. Das glaubt die Richterin allerdings nicht.
Celsius files for Chapter 11 bankruptcy: CEL price on the decline
As the volatile crypto market continues to tumble, Celsius Network has decided to seek help from the authority by filing a voluntary petition under the Chapter 11 bankruptcy code at the United States Bankruptcy Court for the Southern District of New York.
This comes after the crypto lender tried implementing a number of measures including withdrawing WBTC and ETH tokens from Aave to pay its loans.
Following the news of the filing of the Chapter 11 Bankruptcy, the native token of Celsius Network, CEL, took a bow and has almost shed a quarter of its previous gains.
Over the last 30 days, CEL price had risen by about 112.5%. However, today at the time of writing, CEL had registered a drop of about 16.5% over the past 24 hours.
Celsius is. However, not the first crypto firm to file for Chapter 11 bankruptcy. Over the past month, major crypto firms like crypto lender Voyager Digital and crypto hedge fund Three Arrows Capital have also filed for the same in an effort to secure their companies.
Why did Celsius file for Chapter 11 Bankruptcy?
After filing for Chapter 11, Celsius will be able to continue with its operations once the bankruptcy court approves its filing. However, the firm maintained that customers will still not be allowed to carry out withdrawals at the moment.
In the meantime, Celsius will be undergoing a restructuring process that will be aimed at increasing the value for its investors. Where during the process, it will provide ample liquidity to support some of its operations with its $167 million cash at hand as it tries to stabilize its businesses.
A restructuring process might be the only remedy for the crypto firm during the current bear market condition.
While addressing the matter, Celsius CEO and Co-founder, Alex Mashinsky said:
“This is the right decision for our community and company. We have a strong and experienced team in place to lead Celsius through this process. I am confident that when we look back at the history of Celsius, we will see this as a defining moment, where acting with resolve and confidence served the community and strengthened the future of the company.”
To save the company from insolvency, Celsius stopped all withdrawals last month. This has helped them pay off part of the debts they owed. In total, they have paid out debts amounting to about $800 million to a number of other crypto firms including Maker, Aave, and Compound Finance.
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