New UAE regulation imposes fines and jail terms for people dealing in unlicensed crypto payments or virtual currencies
A video published by the UAE Public Prosecution has announced imposing penalties consisting of imprisonment and a fine of up to AED 500,000, or one of two for dealing with virtual currencies that are not officially recognized in the UAE, or for dealing in unlicensed digital payments.
Saudi Arabia releases its first NFT digital souvenirs
Saudi Arabia’s Ministry of Tourism and the Saudi Tourism Authority has released its first NFT digital souvenirs which was presented to the delegation of the 116th session of the Executive Council of the UNWTO. This comes as part of the Kingdom’s tourism strategy to accelerate the sector’s growth pace.
Bin Zayed Group partners with Caduceus to build a Twin City Metaverse Experience.
The Twin City metaverse experience will use VR technology to bring the city of Dubai into people’s homes, offering up all the city’s delights from its renowned shopping malls to its theme parks, and theater shows to the many famous cultural attractions it hosts.
Dubai-Based “Five Hotels and Resorts” To Accept Bitcoin And Ethereum Payments
FIVE Hotels And Resorts, a major hospitality establishment based in Dubai is planning to branch out in the Swiss capital and start accepting crypto payments for bookings and services.
Dubai burger joint Pickl steps into the Metaverse
Pickl, Dubai’s award-winning burger joint has announced opening a virtual restaurant in the metaverse. The burger joint released several images to provide a glimpse of what the restaurant would look like in the metaverse.
UAE School Provides Blockchain Enabled School Passport for Students
The Repton Family of Schools in the UAE has partnered with EduChain Inc., the Canadian based EdTech innovators, to create the region’s first K-12 blockchain-secured multimedia digital portfolio, Repton Passport. The Repton Passport will allow students and alumni from the three Repton schools in the UAE to safely receive, manage and share their academic and extracurricular accomplishments via unique links, multiple platforms and social media.
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