The Dubai Criminal Court sentenced an Asian and a GCC national to three years in jail, and fined them jointly Dhs3,750,000.
Whether Bitcoin (BTC) and Ethereum (ETH) will be able to propel the cryptocurrency markets to a forecasted value of $3 trillion by 2025 is a question investors are now asking themselves, especially since the markets seem to be in "red" at the moment.
Bitcoin fell to its lowest level since July 2021 on Monday as slumping equity markets continued to hurt cryptocurrencies, which are currently trading in line with so-called riskier assets like tech stocks.
The Dubai Criminal Court has sentenced a gang of 4 Africans, including a fugitive to one year in prison and ordered them to pay jointly a fine of Dhs342,000 over the charges of robbery under knife-point.
The digital currency fever has swept the world today, and numerous promising projects have been launched in the Arab world, allowing the Arab world to keep up with the digital revolution and position itself at the forefront of leading global projects.
A massive sell-off in cryptocurrencies wiped over $200 billion of wealth from the market in just 24 hours, according to estimates from price-tracking website CoinMarketCap.
Cryptocurrency companies will need a licence and customer safeguards to issue and sell digital tokens in the European Union under groundbreaking new rules agreed by the bloc to tame a volatile “Wild West” market.
Tesla sold $936 million worth of Bitcoin in the second quarter, more than a year after the company bought $1.5 billion of the cryptocurrency at the peak of its massive growth and popularity.
Zhong deceitfully procured the cryptocurrency from The Silk Road, a site on the dark web once known as the Amazon of drugs, ten years ago.
“As far as our own cryptomining operations, within the IBC Group, are concerned; we are closing down all our Bitcoin and Ethereum mining facilities across China, and moving our staff to multiple new locations globally, including UAE, Canada, US, Kazakhstan, Iceland and various S.American countries,” Khurram said.