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UAE boosts efforts to tackle cryptocurrency crime worldwide
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ADI Chain to join ZKsync Elastic Network, host UAE dirham stablecoin

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ZKsync has welcomed ADI Chain—the first blockchain built with its Airbender technology and hosting the upcoming UAE dirham-backed stablecoin—into its Elastic Network.

Summary

  • ADI Chain is the first blockchain built with ZKsync’s Airbender technology, delivering Ethereum block proofs in ~35 seconds.
  • Testnet went live on August 21, giving developers early access; mainnet expected soon.
  • ADI Chain will host the UAE stablecoin initiative and serve as the platform for a dirham-backed digital currency being developed by Abu Dhabi institutions.

ZKsync (ZK) has announced the integration of the ADI Chain into its Elastic Network, a modular system of rollups and validiums that allows multiple chains to interoperate and share liquidity while keeping verification costs low.

With this move, ADI joins other active chains on the network, including ZKsync Era, Abstract, Sophon, Lens, Zero Network, Cronos zkEVM, ZKcandy, and Wonder.

What stands out about ADI Chain is that it’s the first chain built using ZKsync’s new Airbender technology, a high-speed, open-source RISC-V prover. Airbender is designed to deliver Ethereum block proofs in approximately 35 seconds using a single GPU, significantly improving throughput and reducing costs. Its modular architecture supports various execution environments, including Ethereum Virtual Machine (EVM), EraVM, and WebAssembly (WASM), offering greater performance and customizability for developers.

“With GPU-powered computing and AI-driven protocol design, ADI Chain can support large-scale partners and bring 1 billion people into the digital economy by 2030,” said Andrey Lazorenko, CEO of ADI Foundation.

ADI Chain to host UAE’s first AED-pegged stablecoin

In addition to using ZKsync‘s Airbender, ADI Chain is noteworthy as it will serve as the platform for the UAE’s first dirham-pegged stablecoin initiative. In April, Abu Dhabi institutions—including ADQ, IHC, and First Abu Dhabi Bank (FAB)—announced plans to issue a stablecoin backed by the UAE dirham on the ADI blockchain, pending regulatory approval from the Central Bank.

ADI testnet was launched on August 21, providing developers and partners with early access to ADI Chain’s capabilities, with the mainnet set to go live soon.



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Crypto Trends

Crypto Kings: Singapore And UAE Dominate Global Digital Currency Usage – Study

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Singapore and the United Arab Emirates have climbed to the top of recent crypto adoption lists, with different reports placing the city-state and the Gulf federation among the most digital currency-friendly places on earth.

According to Henley & Partners and surveys compiled by industry trackers, Singapore holds the number one spot in some indexes, while the UAE posts some of the highest ownership rates recorded.

Based on reports, about 24.4% of Singapore’s population is estimated to own crypto, and the UAE shows about 25.3% ownership — figures that are far above the global average.

Singapore’s Position And Policy Mix

Singapore’s lead is tied to its mix of clear rules and strong finance infrastructure. Regulatory sandboxes, licensing for exchanges, and a banking system that works with digital currency firms are often cited as factors.

Meanwhile, the ApeX Protocol study shows that nearly a quarter of Singaporeans—24.4%—own digital assets, a figure that has more than doubled from 11% the year before.

This surge is also mirrored online, with the country generating about 2,000 crypto searches per 100,000 people, the highest level seen anywhere in the world.

Source: Apex

UAE’s Tax Edge And Rapid Uptake

The UAE is pushing hard to attract users and companies. Based on reports, the country scored a perfect 10/10 on tax-friendliness in one index, and its zero-tax stance on trading, staking, mining, or selling bitcoin across many emirates is a major draw.

Dubai’s Virtual Assets Regulatory Authority (VARA) and other local initiatives have created licensing paths and special zones for digital asset firms.

BTCUSD trading at $113,738 on the 24-hour chart: TradingView

Henley & Partners lists the UAE among the top jurisdictions for crypto wealth, often placing it in the top five for investor-friendly climates. Those policies appear to help explain why roughly a quarter of people in the UAE are reported to hold crypto assets.

Ownership Numbers And What They Mean

Reports place the global number of crypto users in the hundreds of millions — around 562 million by some counts — but that figure hides big differences. Some countries show high ownership because many people treat crypto as an investment.

In others, crypto is used more for payments or savings. Methodologies differ: some studies count any wallet with activity, others rely on surveys asking people if they own crypto.

Featured image from Roslan Rahman/AFP/Getty Images, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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NFT Gaming

UAE Signs Crypto Tax Reporting Agreement, Opens Industry Consultation

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In brief

  • The UAE Ministry of Finance signed the Multilateral Competent Authority Agreement under CARF on Sunday, following its November 2024 announcement.
  • Implementation begins in 2027, with the first international tax information exchanges expected in 2028.
  • An eight-week public consultation launched on September 15 invites all crypto stakeholders to weigh in on potential impacts and compliance requirements.

The United Arab Emirates has committed to automatic crypto tax reporting with global authorities, launching an industry consultation to hammer out implementation details before the 2027 rollout.

The nation signed the Multilateral Competent Authority Agreement on the Automatic Exchange of Information under the Crypto-Asset Reporting Framework, developed by the Organization for Economic Cooperation and Development in 2023, which establishes mechanisms for automatic exchange of tax-related information on crypto-asset activities between countries. 

Crypto firms will need to comply with the new reporting rules by 2027, with the UAE beginning to share data with international tax authorities the following year.



“The framework establishes a mechanism for the automatic exchange of tax-related information on crypto-asset activities, ensuring that the UAE provides certainty and clarity to the crypto-asset sector while upholding the principles of global tax transparency,” the Ministry said on Sunday.

The move comes as the Emirates continues building its reputation as a global hub for digital assets, following its 2024 decision to exempt crypto transactions from value-added tax and Dubai’s establishment of clear regulatory guidelines for Web3 firms.

To ensure the framework meets market needs, the Ministry has launched an eight-week public consultation running through November 8. 

The Ministry is soliciting feedback from crypto firms and service providers to share their views and recommendations on potential impacts and areas requiring further clarification.

The consultation “aims to develop clear and effective regulatory rules informed by the insights of experts and stakeholders, and aligned with market needs,” the statement read.

Industry experts see the development as largely positive, with Nitesh Mishra, co-founder and CTO at hedging platform ChaiDEX, telling Decrypt the agreement “brings greater legal clarity and certainty to crypto activities in the UAE, making the environment safer for compliant investors.”

“It aligns the UAE with global tax transparency standards, boosting trust with regulators and international partners,” he added.

Allowing “public input on the rules” means “the final regulations are likely to reflect market and investor needs,” Mishra said, and will help “attract institutional investors as the rules help establish a fair, well-regulated marketplace.”

Benjamin Young, business setup expert at Aston VIP, told Decrypt that the UAE signing the agreement “reinforces the country’s commitment to global regulatory alignment and transparency in digital assets, while also helping strengthen investor confidence.”

“It will require local and international firms operating in the UAE to ensure compliance with new reporting obligations,” he added, which may “increase operational demands but should contribute to a healthier long-term ecosystem.”

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Solmate launches with $300m to establish Solana treasury in UAE
NFT Gaming

Solmate launches with $300m to establish Solana treasury in UAE

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Solmate launched with $300 million to establish a Solana treasury in UAE. Emerging from an oversubscribed private placement with backing from Ark Invest and UAE’s Pulsar Group, the new entity seeks to build physical staking infrastructure in Abu Dhabi.

Summary

  • Solmate launches with $300 million to establish a Solana treasury in the UAE, rebranding from Brera Holdings.
  • Backed by Ark Invest, Pulsar Group, RockawayX and the Solana Foundation, with plans for Abu Dhabi-based staking infrastructure.

According to a press release dated September 18, the capital was secured through a PIPE deal that will see Brera Holdings PLC, a Nasdaq-listed multi-club football ownership company, completely rebranded as Solmate.

The financing was spearheaded by UAE-based advisory firm Pulsar Group and garnered significant demand from a notable consortium, including Cathie Wood’s Ark Invest, early Solana (SOL) infrastructure specialist RockawayX, and the Solana Foundation itself.

Notably, the move installs crypto legal veteran and former Kraken CLO Marco Santori as CEO, with economist Arthur Laffer and RockawayX’s Viktor Fischer joining the board.

Why Solmate is betting on Solana

Per the statement, Soulmate views SOL as both fast-growing and structurally different from its peers. The company said the Solana blockchain processes more transactions and generates more on-chain revenue than all other networks combined.

Unlike Bitcoin, Solana is natively yield-generating through its proof-of-stake consensus mechanism, creating a tangible revenue opportunity for treasury holders through staking. Solmate’s strategy is a direct bet on this economic model, positioning the company to capitalize on the network’s growth.

“Our stakeholders have deep, long-term conviction in the Solana ecosystem and will demand that we accumulate SOL through bull markets and bear markets alike. Solmate is well-positioned as Solana adoption accelerates across institutional markets, DeFi, NFTs and AI,” Solmate CEO Marco Santori said.

To facilitate this aggressive accumulation, Solmate has negotiated a significant advantage. The company has executed a letter of intent with the Solana Foundation and expects to enter into a definitive agreement that would grant it preferential access to SOL tokens at a lowered entry price.

Operationally, the strategy extends far beyond simply holding assets on a balance sheet. Soulmate said a portion of the $300 million war chest is earmarked for building revenue-generating physical infrastructure in Abu Dhabi. The first project will be a deployment of bare metal servers specifically configured to operate a performant Solana validator

Following the announcement, shares of Brera Holdings (BREA) experienced a seismic surge, rocketing 412% to trade at $39.22.



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Crypto Trends

UAE Steps Up Global War On Crypto Crime, MOI Reveals

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The United Arab Emirates is moving harder against financial crime tied to cryptocurrencies, with authorities widening cooperation at home and abroad.

Reports show that millions of dollars in virtual asset laundering have already been tracked, and officials are intent on making the country less attractive to fraudsters.

Global Partnerships To Tackle Crypto Abuse

According to Gulf News, the UAE Ministry of Interior joined the International Cryptocurrency Security Action Week in Singapore, a forum supported by Mastercard and international police groups.

The goal was to improve coordination with law enforcement agencies, exchanges, and tech experts worldwide. Workshops centered on fraud, money laundering, and dark-web misuse, as well as ways to build faster reporting channels between the public and private sectors.

The Ministry of Interior, through its International Affairs Office, took part in the International Cryptocurrency Security Action Week workshop, hosted by the Secure Communities Forum in partnership with Mastercard in Singapore. The event brought together global leaders from law… pic.twitter.com/saqnyWA8mZ

— وزارة الداخلية (@moiuae) September 13, 2025

The effort is not just symbolic. Dubai’s Virtual Assets Regulatory Authority (VARA) has entered into new arrangements with the Ministry of Interior to strengthen monitoring of exchanges and custodians.

Task forces and joint training programs are being formed to improve detection of illicit trades and suspicious accounts.

Millions In Illicit Trades Under Scrutiny

Investigations are already producing results. Dubai Police and the Dubai Economic Security Center examined crypto laundering operations worth $65.3 million between 2022 and 2024, according to reports.

Total crypto market cap currently at $3.97 trillion. Chart: TradingView

Several high-value cases have been disrupted, while local courts continue to handle proceedings against individuals accused of misusing digital assets for crime.

Authorities say such operations are part of a wider clampdown that includes confiscations. Reports from the Ministry of Interior show more than AED 4 billion in assets were seized in money laundering cases, with offenders arrested and charged.

Officials say these figures reflect not only the scale of abuse but also the reach of enforcement now in place.

Stronger Laws And Technology

Legal changes are underway to make sure virtual asset crime is addressed more clearly under UAE law. Regulations now give investigators more power to follow transactions across borders and freeze funds.

Partnerships with bodies such as Interpol and the UN Office on Drugs and Crime have also been expanded to keep information flowing quickly.

Technology is another part of the strategy. The Ministry of Interior is reportedly leaning on artificial intelligence and sophisticated data analysis software to monitor suspicious transactions and spot unusual patterns that human investigators may overlook.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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UAE boosts efforts to tackle cryptocurrency crime worldwide
GameFi Guides

UAE boosts efforts to tackle cryptocurrency crime worldwide

by admin



The UAE Ministry of Interior (MOI) participated in the International Cryptocurrency Security Action Week workshop in Singapore.

Summary

  • UAE joins global law enforcement in Singapore to fight crypto fraud and laundering
  • Digital Dirham CBDC launch set for late 2025 with wholesale and retail use cases
  • Dubai pushes $16b real estate tokenization, Emirates to accept crypto payments

The UAE joined global law enforcement agencies to address cryptocurrency-related crime challenges. The event was organized by the Secure Communities Forum with Mastercard.

Enhanced international cooperation on crypto crimes

The workshop brought together hundreds of experts from law enforcement and security professionals to share advanced methods for tracking cryptocurrency fraud and combating money laundering.

Participants included representatives from the United Nations Office on Drugs and Crime, INTERPOL, the US Internal Revenue Service, the Royal Malaysian Police, and leading technology companies worldwide.

Sessions provided practical training on investigating dark web activities and connecting law enforcement agencies with cryptocurrency exchanges and analytics firms.

This public-private cooperation model aims to create more effective responses to changing crypto crime patterns across three focus areas.

These include investigating cryptocurrency crimes using advanced tracking methods, strengthening cooperation between agencies and exchanges, and providing insights on digital assets and emerging risks.

The UAE’s recent moves have positioned it as a crypto-friendly jurisdiction through clear regulatory frameworks established by VARA and proactive law enforcement engagement with international partners.

Crypto integration accelerates across UAE

The UAE is accelerating crypto adoption across multiple sectors.

The Central Bank of the UAE plans to launch the Digital Dirham between October and December 2025, following comprehensive technical documentation released in July. The CBDC will be available in both wholesale and retail formats and will have full legal tender status.

Dubai is leading government-backed real estate tokenization through the Prypco Mint platform, developed in partnership with VARA and the UAE Central Bank. Built on the XRP Ledger, the platform allows fractional ownership starting at AED 2,000 and aims to tokenize up to $16 billion worth of Dubai real estate by 2033. The first tokenized property sale attracted 224 investors, 70% of whom were entering Dubai’s real estate market for the first time.

Emirates Airlines will begin accepting cryptocurrency payments through its partnership with Crypto.com in 2026, allowing passengers to pay for flights using Bitcoin, Ethereum, and stablecoins.



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Crypto Trends

Bitcoin Payments Now Accepted By Top UAE Developer For Real Estate

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RAK Properties, one of the UAE’s largest listed developers, has begun accepting cryptocurrency payments for its homes.

Buyers can now settle transactions using Bitcoin, Ethereum, and Tether. The initiative comes through a partnership with Hubpay, a regulated fintech company, which instantly converts digital assets into UAE dirhams before transferring them to the developer’s account.

Partnership Targets Global Investors

According to company executives, the move is aimed at attracting international buyers who are comfortable using digital assets.

RAK Properties is currently developing the Mina Al Arab waterfront community, with more than 800 units expected to be delivered by the end of the year.

Rahul Jogani, the firm’s chief financial officer, said the approach aligns with the company’s effort to appeal to “digitally and investment savvy” clients.

One of the UAE’s master-developers, RAK Properties, now allows overseas buyers to make purchases in Ras Al Kahimah using cryptocurrencies.
RAK Properties has struck a partnership with Hubpay, the ADGM-regulated fintech,to enable international clients to purchase property using… pic.twitter.com/WxMFD7JhJu

— Bazaar Times (@bazaartimes) September 1, 2025

Hubpay, licensed under Abu Dhabi Global Market, provides the infrastructure to ensure crypto payments are processed securely and that RAK Properties avoids the risk of holding volatile tokens on its books.

Market watchers have described the setup as a way to expand options for foreign buyers without exposing the company to added risk.

Image; RAK Properties

Profits On The Rise

The financials of the company seem to back its growth plans. Reports have revealed that RAK Properties recorded a net profit of AED 160 million during the first half of 2025, up by around 80% from the same period in the previous year.

Its capitalization stands at nearly AED 4.7 billion, or about $1.3 billion. Executives attribute the company’s growth to both robust demand in Ras Al Khaimah and its attempts to increase investor access.

BTCUSD trading at $111,216 on the 24-hour chart: TradingView

Bitcoin Adoption

Crypto adoption in UAE real estate is not new. Developers like DAMAC and Emaar have already introduced Bitcoin payment options, while Dubai’s land authority has worked with payment firms to process crypto-linked property deals.

RAK Properties’ decision adds Ras Al Khaimah to the list of emirates opening up to the practice.

RAK Properties’ entry into bitcoin transactions is being framed as part of Ras Al Khaimah’s Vision 2030 goals. By widening the pool of investors who can access property purchases, officials hope to draw more overseas buyers into the emirate’s housing market.

Featured image from Meta, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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