The UAE's Central Bank (CBUAE) has denied reports of endorsing a private cryptocurrency trading platform.
According to the national news agency WAM, a "potentially fraudulent website" had published an article saying the Bank’s governor had approved the digital platform.
However, the monetary regulatory authority has rejected the claims.
It’s also added that it doesn’t approve any private cryptocurrencies or schemes, and hasn’t issued any licences in the UAE.
The article, which was published on December 4, 2019, contains false information, the CBUAE said in a statement.
"CBUAE believes that private cryptocurrencies pose potential risks related to price volatility, money laundering and terrorist financing," the statement explained.
The UAE's Minister of Economy and Chairman of the General Civil Aviation Authority (GCAA), on Monday emphasised the aviation sector's critical role in the global economy, noting that it accounts for 12 to 13 per cent of GDP in some countries and supports millions of jobs worldwide.
World leaders and technology executives are convening in Paris on Monday to discuss how to safely embrace artificial intelligence at a time of mounting resistance to red tape that businesses say stifles innovation.
The Abu Dhabi Registration and Licensing Authority (ADRA), which develops and regulates the business sector, on Monday revealed significant growth in business licences and compliance indicators in the Emirate's mainland and non-financial economic free zones during 2024.
Dubai Electricity and Water Authority (DEWA) has announced that it will adopt the cubic metre as the standard unit for measuring water consumption starting from the March 2025 billing cycle.
The UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, has said negotiations for the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Japan will be completed before the end of 2025.
Aviation sector contributes $4.1 trillion to global economy
Paris AI summit draws world leaders
16% growth in new economic licences in Abu Dhabi during 2024
DEWA updates billing on water consumption
UAE, Japan to complete CEPA by end of year
