Published on June 14th, 2018 | by bitcoin0
Banks and Cryptocarrens Global Assessment: Middle East
As many advocate to replace the U.S. dollar as the global reserve currency, Bitcoin and nationalized cryptocurrencies may finally offer Muslim countries economic stability and leeway in Western politics.
In fact, President Nicolas Maduro of Venezuela called on all 14 OPEC nations to develop a platform for trading oil-backed cryptocurrencies.
The following assessment of cryptocurrency regulation in the Middle East is a part of a larger series of pieces evaluating regulation of the flourishing global fintech industry.
Notably, a gold investment and trading firm in Dubai is the first company licensed to store virtual currency in the Middle East.
A Dubai-based entrepreneur, Com Mirza, launched the Islam-friendly “Bitcoin of the Middle East,” or Habibi Coin in late 2017.