UAE Is On Track To Become The Next Major Crypto Hub

TL;DR

• Abu Dhabi is emerging as a crypto leader, with Dubai enacting protective laws and ADGM supporting digital asset regulation. This could challenge the current dominance of the US and Europe in the crypto market.
• M2, the cryptocurrency exchange endorsed by ADGM, has introduced its global platform and many new investor services. 

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UAE’s Regulatory Position in Crypto

Abu Dhabi has emerged as a powerful competitor for many crypto industries. While the US and Europe are fighting the industry, the UAE states are trying to embrace it. 

For instance, Dubai enacted the Dubai Virtual Asset Regulation Law, aiming to fortify investor protection and foster ethical business expansion.

Additionally, the ADGM’s Financial Services Regulatory Authority recently articulated its regulatory philosophy concerning digital assets. They affirmed its commitment to fortifying the regulatory landscape for these activities.

This initiative aligns with ADGM’s strategic framework governing spot virtual asset transactions.

If the UAE transforms into a cryptocurrency hub, the cryptocurrency landscape will drastically change. 

For now, the major part of the crypto trades and spot trading volume is situated in the US and Europe. Given that the two continents will either ban or heavily restrict crypto companies, the UAE will become a safe bay for them.  

M2 Comes with Extensive Updates for Its Crypto Exchange 

Following its authorization by the Abu Dhabi Global Market in August, the M2 cryptocurrency exchange has introduced its global platform.  

It will allow institutional and individual investors to conduct transactions and maintain virtual assets in custody.

The company introduced its innovative ‘M2 Earn‘ feature, offering an impressive yield of up to 10.5% on prominent cryptocurrencies.

Investors can leverage the in-app ‘Earn Calculator’ to strategize their investments over specific periods. Meanwhile, the ‘Smart Trading’ function facilitates substantial trade orders efficiently.

“M2’s entrance marks a definitive invite for institutional investors, family wealth managers, and individual traders to securely explore and invest in the burgeoning sector of digital assets with assurance.”

M2’s CEO, Stefan Kimmel, remarked.

In addition to these features, M2 is set to roll out its native MMX token, enhancing the user experience. 

The token, operational on the Ethereum blockchain, will be accessible on multiple marketplaces, centralized and decentralized. 

The token will focus on utility within the M2 environment rather than serving as an investment.

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M2 exchange is a fully regulated and FSRA-licensed investment platform to grow your wealth in the digital asset space. You access 30+ digital assets and a crypto earn feature that offers APY up to 11.5%, geared towards everyday traders. Plus, it only charges a 0.0005 BTC withdrawal fee, making it a solid pick. 

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  Fully regulated exchange.

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  30+ supported assets. 

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  Instant swap feature.

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  Crypto earns 11.5% APY.

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  Low withdrawal fees.

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  A new platform.

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  Lack of information on websites.

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  Less responsive live chat. 

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M2 Expands Its Regulatory Compliance

M2 has secured a digital assets business license from the Bahamas Securities Commission and received ADGM’s approval for its subsidiaries, M2 Limited and M2 Custody Limited, to function as a comprehensive trading solution and custody provider, respectively.

Furthermore, M2 is actively seeking licenses across various international jurisdictions, as stated in the announcement.

The platform has garnered attention from renowned Kevin O’Leary. He shared with Fox Business his insights on M2’s potential to surpass leading exchanges like Binance. 

The Canadian entrepreneur emphasizes its regulatory compliance, financial backing, and global accessibility.

O’Leary highlighted the challenges in the crypto sector, referencing legal actions against major platforms and the impediments in launching Bitcoin ETFs. 

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