Fintech startups in The UAE
The United Arab Emirates has become a hub for fintech startups due to a tech-savvy population and supportive government policies. With the ADGM open banking framework and regulation for crypto assets activities, UAE regulators are keeping up with technological advancements while ensuring data privacy and protection. The challenges for foreign fintech companies looking to operate in the UAE include data processing restrictions and obtaining a local license, but with the right partnerships, these hurdles can be overcome to tap into the immense potential of emerging markets.
Overall, the UAE remains a globally competitive country in fintech, with regulators committed to staying ahead of the curve.
Costa Rica hydro plant gets new lease on life from crypto mining
A small river in the middle of coffee plantations, sugar cane fields and a forest provides energy to a hydroelectric power plant in Costa Rica that feeds hundreds of computers wired up to the cryptocurrency mining business.
EXCLUSIVE Brazil central bank puts brakes on tougher rules for fintechs, sources say
Brazil’s central bank has put the brakes on tougher regulations for the burgeoning fintech industry, withdrawing a draft proposal that had been set to be voted on last month by the government’s top financial policy-making body, four sources familiar with the matter told Reuters.
