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Join Our Telegram channel to stay up to date on breaking news coverage The UAE has been building a strong relationship with the cryptocurrency industry in some of its regions, but now, the federal financial regulatory agency of the UAE seeks to offer licenses to crypto companies that would allow them to offer virtual asset services country-wide. According to the recent announcement by the nation’s Securities and Commodities Authority (CSA), all virtual asset service providers who wish to operate in the country will have to submit an application to obtain the license. The applications should be submitted to the CSA itself. The only companies exempt from going through the process are those already owning the licenses to operate in financial free zones. Meanwhile, cryptocurrency companies that operate in the emirate of Dubai will still have to be in compliance with Dubai’s own, local financial regulator — Virtual Asset Services Authority (VARA). In other words, D...

Entrepreneurs have begun leveraging favorable legislation to create new cannabis markets in the metaverse. Entrepreneurs are betting on the future of the metaverse and cannabis industries. In the last decade, developments in government legislation have led to the legalization or decriminalization of Cannabis in a number of countries, municipalities and U.S. states, allowing users to fully appreciate the sacred plant in both recreational and medicinal settings. While Cannabis remains classified as a Schedule 1 drug by the United States federal government, decades of protests, scientific research and political lobbying have significantly reduced its stigma and opened the Cannabis market for commercialization efforts. Technologically, the rise of the metaverse has reinvigorated the impact of having a virtual presence. The internet and social media introduced the concept of a “virtual self” and with it, facilitated an unprecedented form of communication and interaction. The metaverse is ...