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OpenAI CEO Sam Altman has called for up to $7 trillion in investments to establish infrastructure for manufacturing artificial intelligence chips, addressing the severe global shortage. He has shared this proposal with both the government and business leaders in the United Arab Emirates (UAE). 
Two of the world's leading crypto hubs join forces!
In a recent assembly in Abu Dhabi, the central banks of Hong Kong and the United Arab Emirates (UAE) unveiled plans to amplify their collaborative efforts, specifically in the domain of cryptocurrency regulations. The joint endeavor will take shape in the form of a collaborative working group. Ripple's legal battle with SEC costs $200 million and counting
Ripple CEO Brad Garlinghouse revealed that the company has spent $200 million defending itself against a lawsuit brought by the United States Securities Exchange Commission (SEC). He made this statement during a fireside chat at the Dubai Fintech Summit, highlighting the differences in crypto regulation progress between the U.S., the UAE, and Europe. 
A school in the UAE offers to pay for education with cryptocurrency
The Dubai-based Citizens School, starting in September 2022, offers to pay for education with cryptocurrency. It will be a pioneering school in the Middle East, providing parents with flexible payment options in both fiat and digital money. 
US sanctions Iranians moving oil revenues through crypto
The US Treasury Department, through OFAC, imposed new sanctions on two Iranian nationals and over a dozen companies in Hong Kong and the UAE linked to oil sales and the use of cryptocurrency to funnel funds for Iran’s Islamic Revolutionary Guard Corps–Quds Force (IRGC-QF) and Ministry of Defense (MODAFL). 
The legal firm MANIMAMA has released a report analyzing cryptocurrency tax systems worldwide, including the EU, Switzerland, the UAE, and more. Notably, the UAE, particularly Dubai, emerges as one of the most favorable locations for crypto trading and earnings, as it imposes no capital gains or income tax. 
Coinbase Eyes UAE as Strategic Hub for Crypto Expansion
The United Arab Emirates (UAE) has rapidly established itself as a global center for web3 innovation, with the nation boasting a thriving startup ecosystem, robust blockchain infrastructure, and a cryptocurrency adoption rate exceeding 11% of the population. 
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