Dubai's Virtual Assets Regulatory Authority (VARA) and BlackRock-backed tokenization platform Securitize have signed a Memorandum of Understanding to develop regulated tokenized markets and digital asset infrastructure in Dubai.
Authorities in Dubai and Sharjah detained Binance employees for questioning as part of an investigation into a bank account the cryptocurrency exchange uses to hold customer funds. The incident echoes a similar 2023 probe involving US regulators and associates of former CEO Changpeng Zhao.
ARP Digital, a Bahrain-based institutional digital asset infrastructure provider, has secured a broker-dealer license from Dubai's Virtual Assets Regulatory Authority (VARA), enabling the firm to offer regulated cryptocurrency services in Dubai.
Dubai-based maritime platform Shipfinex has partnered with Abu Dhabi's ADI Chain to tokenize approximately 35 commercial vessels worth $500 million, aiming to create new blockchain-based financing channels for shipowners in the $2 trillion shipping asset class.
Flowdesk Omega FZE, the Dubai subsidiary of French digital asset firm Flowdesk, has been granted a full broker-dealer license by the Dubai Virtual Assets Regulatory Authority (VARA). The BlackRock-backed liquidity provider and trading technology firm can now offer crypto broker-dealer services in the UAE.
The U.S. government has sold two sanctioned oil tankers, seized following a military raid in Venezuela in January, to Dubai-based Global Marketing Systems for scrapping. The vessels, identified as Era and Lileo (previously known as Bella 1/Marinera), will be dismantled at metal recycling facilities in India.
The United States Treasury Department sanctioned two Dubai-based cryptocurrency exchanges, Shelbit and Aban Tether, alleging they processed billions of dollars in transactions for Iran's Islamic Revolutionary Guard Corps and facilitated sanctions evasion. The action is part of the Trump administration's 'Economic Fury' campaign targeting Iranian financial networks.
Mobility company Moove has secured $250 million in Series C funding led by Mubadala Investment Company, with co-leads Woven Capital (Toyota) and Ion Pacific, to scale its autonomous vehicle fleet infrastructure. The Dubai-based company, which started in Lagos in 2020, now operates approximately 42,000 vehicles across 13 countries.
Dubai Duty Free has launched Crypto.com Pay across its retail network at Dubai International Airport, Al Maktoum International Airport, and its online store, making it the first airport retailer in the Middle East to offer regulated cryptocurrency payment options. The rollout implements a strategic partnership established through a July 2025 memorandum of understanding between Dubai Duty Free and Crypto.com.
A Reuters investigation revealed that Shelbit, an unlicensed Dubai-based cryptocurrency exchange, processed at least $4 billion for an Iranian sanctions-evasion network linked to the IRGC, Iran's central bank, and illegal gambling operations. At least $676 million from wallets connected to this network flowed to Binance.
Emirates has integrated Crypto.com Pay on its website and mobile app, enabling eligible UAE residents to book flights using cryptocurrency with payments settled in UAE dirhams. The launch represents the airline's expansion of digital payment options aligned with Dubai's digital economy initiatives.
Brooke George, a 23-year-old British influencer from Kent, has been charged with murder in Dubai and faces possible execution after allegedly stabbing to death a man she met online. According to advocacy groups, George claims the man repeatedly assaulted her and she acted in self-defense.
