DIFC, MFTA partner to advance the future of finance
DUBAI, 10 hours, 40 minutes ago Dubai International Financial Centre (DIFC) has signed an agreement with the Mena FinTech Association (MFTA) for collaboration for advancing fintech and the future of finance in the region including Open Banking, RegTech, Payments and Digital Assets. DIFC and MFTA will also develop and publish joint research and provide strategically important educational programmes on those topics through the DIFC Academy. The partnership and joint initiatives aim at deepening collaboration among regional regulators, industry associations, governments, financial institutions and FinTech businesses to unlock the full potential of the sector. DIFC is well regarded for being the region’s original pioneer for FinTech this has resulted in over 50 per cent of all GCC associated firms establishing in the Centre.
DIFC, MFTA partner to advance the future of finance tradearabia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tradearabia.com Daily Mail and Mail on Sunday newspapers.
Cryptocurrencies present dilemma for ESG investors
Cryptocurrencies present dilemma for ESG investors
Two of the biggest trends in the investing industry are on a collision course.
As cryptocurrencies and digital assets increasingly find their way into institutional portfolios albeit largely absent from retirement plans there is ultimately a big roadblock to the largest pots of money: ESG considerations.
Cryptocurrencies, and in particular bitcoin, require a staggering amount of energy to mine and process transactions.
According to the Cambridge Centre for Alternative Finance, bitcoin now makes up an estimated 0.59% of global energy consumption and consumes more energy in a year than Argentina or Norway.
China’s crypto miners make hard choices to meet climate goals
With Inner Mongolia banning crypto-mining and Xinjiang expected to soon follow, China’s crypto miners are turning to green energy or moving overseas.
Bitcoin and cryptocurrency miner – a mining computer. Close-up on several GPU
Once a popular crypto-mining hotspot in China, Inner Mongolia has issued a crypto-mining ban that will take effect tomorrow, leaving crypto miners just one more day to comply with the order to shut down their business or move all their mining rigs out of the province.
Inner Mongolia’s ban is just one of many actions supporting Beijing’s directive to suppress the country’s crypto-mining activities, which is regarded as a highly polluting but low-return industry in regions like Inner Mongolia, where the mining is run on coal-powered electricity. Inner Mongolia’s crypto-mining ban is being enacted to help China achieve its ambitious goals to achieve carbon-neutrality by 2060.
Crypto News Recap: Bitcoin Remains Above $50K, First NFT Sold in Arab World albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.