The Virtual Assets Regulatory Authority (VARA) released its regulatory rulebook for 2023 on Wednesday, February 8th. This has given a boost to Dubai’s aspiration of becoming the center of the cryptocurrency landscape.
The regulatory authority has stated that any entity within the Emirates looking to issue virtual assets will have to start by applying for a license to operate in Dubai. The aim is to attract as many crypto businesses and investors to the Emirates as possible.
VARA’s Executive Board Chairman Helal Saeed stated that their mission is “to establish the Emirate as the capital of the future economy anchored by metaverse, AI, Web3.0 and blockchain.”
“This custom-designed construct reflects UAE’s commitment to building responsible safeguards and Dubai’s confidence in delivering a progressive VA ecosystem that nurtures next-gen innovation,” he added.
Hedera today gone tomorrow?
Will the blockchain technology Hedera (HBAR) get a one-way ticket to the New Crypto Hub in the Emirates? Hedera is designed for enterprise-level solutions aimed at big companies and may look to operate elements of this in Dubai, who knows?
Hedera can boast a portfolio already encompassing both Google and IBM, which is not surprising as they are both a part of the 39-member Hedera Governance Council.
Hedera has worked hard on its partnership programs, connecting with global powerhouses LG, Boeing, and Deutsche Telekom. These associations have led to increased adoption and trade for the open-source public ledger.
At the time of writing this article, Hedera was trading at $0.07157, down 5.08% in the last 24 hours, also down 3.5% in the past 7 days. However, overall market capitalization sits at $1,863,096,086.
Terra Classic upgrade to first class
Luna Classic (LUNC) should not be confused with the original Terra Luna coin, which ran after the launch of a new Terra chain and after the UST/Luna collapse. The new coin separated from Luna Classic (LUNA) and still carries the Terra title as well as its Luna token named Luna 2.0.
But Terra Classic has moved on with no regrets, and it has announced its plans to launch a new upgrade called v1.0.5. This upgrade is aimed at evolving the ‘keeper’ that stores the map of modules in the whole application memory.
Terra Classic (LUNC) traded at $0.0001738 at the time of this article, down 3.11%. Over the last 24 hours. Over the last seven days, however, Terra Classic has seen an increase of 0.21%, and market capitalization also sat at $1,024,342,366.
Big Eyes Pre-sailing to Dubai
Big Eyes Coin (BIG) is, in many respects, the new crypto coin in the market space. The popular meme coin isn’t just focusing on investment returns but also has charitable aspirations. The crypto newcomers are giving 5% of all their tokens to a charity wallet.
Big Eyes is on the Ethereum Network, moving wealth into the Decentralised Finance (DeFi) ecosystem. This means that all the Big Eye Coin investors could have up to 70% available at launch.
Experts are starting to suggest that this Big Eyes’ pre-sales cycle may end up hitting the biggest presale numbers in the past five years, as they have already broken the record set two years ago.
Presale is entering Stage 11, and the impressive 200% bonus is still available. Use the promotional code LAUNCHBIGEYES200 on the Big Eyes Coin website to join the meme-coin community.
New Cryptos like Cat-themed meme coin Big Eyes Coin will be looking positively at the horizon, maybe even booking its place in the crypto hub future of Dubai. The market has been boasted by its $25 million+ presale tally.
Conclusion
As The Virtual Assets Regulatory Authority (VARA) rulebook sits on the desks of bigwigs the world over, who will be aiming to get a bit of the Emirates pie? Big Eyes have shown that they have an impressive bargaining chip with its pre-sale numbers.
More established cats on the crypto scene may yet have something to say, as the Terra Classic upgrade could be a game changer, and who knows who Hedera will be partnering with next?
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