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Binance Is Helping Dubai Become The World’s Crypto Capital

The goal is to create a special crypto zone and provide assistance to crypto-related businesses that are interested in becoming licensed in Dubai.

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binance helping dubai become the world's crypto capital
Binance

Binance, the largest cryptocurrency exchange in the world, has recently signed a deal with the Dubai World Trade Centre Authority (DWTCA) to create an ecosystem for cryptocurrencies and other global virtual assets.

“With the MoU, Binance will help advance Dubai’s commitment to establishing a new international Virtual Asset ecosystem that will generate long-term economic growth through digital innovation” said the Binance team in a statement. “Binance believes that Dubai’s new agenda will contribute to the growth of the global economy”.

To achieve this goal, Binance and DWTCA want to create a special crypto zone and provide assistance to crypto exchanges, businesses that offer blockchain, and Distributed Ledger Technology (DLT) services that are interested in becoming licensed in Dubai.

Because Dubai doesn’t want to associate itself with illegal activity, DWTCA will additionally act as a regulator and enforce investor protection standards, as well as anti-money laundering (AML) and Combating the Financing of Terrorism (CFT) laws.

At this point, we don’t know when the crypto zone will become operational. Binance and DWTCA have so far only signed a Memorandum of Understanding (MoU) that outlines their shared vision, but many technical and regulatory details have certainly yet to be worked out.

Also Read: 5 Gaming Cryptos That Will Explode In 2023

The project could be affected by the large regulatory pressure Binance is currently facing from regulators around the world.

For example, the Dutch central bank accused it of not complying with AML and CFT laws, the US Justice Department and Internal Revenue Service is probing the exchange to investigate money laundering and tax offenses, the UK’s Financial Conduct Authority has banned the Binance Group from operating in the UK, and the Securities and Futures Commission (SFC) has issued a warning to consumers, stressing that the company isn’t licensed to conduct regulated activity in Hong Kong.

It’s possible that Binance, which describes itself as a decentralized company with a global presence and whose corporate structure is opaque at best, is interested in establishing the crypto zone in Dubai to create a safe haven for itself.

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Apple Announces New iPad Pro With M4 Chip And Updated iPad Air

“This is the biggest day for iPad since its introduction,” said CEO Tim Cook in a video posted to Apple’s website.

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apple announces a new ipad pro with m4 chip and updated ipad air
Apple

Apple’s latest updates to its popular iPad Air and Pro models were announced on Tuesday, May 7. These are the first changes since 2022, the longest stretch between new models since the iconic device was revealed in 2011.

Both the 11-inch and 12.9-inch versions of the iPad Pro have received a huge design overhaul. The most noteworthy change is the move to OLED screens, with the 12.9-inch version receiving a small bump in size to 13 inches. Apple claims the new tablets are brighter and more vibrant than outgoing models, thanks to a technology it calls “tandem OLED” or “Ultra Retina XDR”.

The 13-inch model now measures an astonishing 5.1 mm in thickness, which Apple says is its slimmest device ever. (The 11-inch version is 5.3 mm thick.) For those who prefer the look of a matte display, a nano-texture coating will also be available for the first time on the Pro models.

Finally, the new iPad Pros have received a processor bump to the latest M4 chip, which Apple says is an “outrageously powerful chip for AI”, offering an example of its ability to quickly and efficiently isolate subjects from backgrounds in videos.

The iPad Pro 11-inch starts at $999, and the larger 13-inch version starts at $1,299 with 256GB of storage.

Updated iPad Air In Two Sizes

The sixth-generation iPad Air didn’t receive as many upgrades as the iPad Pro but significantly does now come in two sizes. As with the Pro models, buyers now have the choice between an 11-inch and 13-inch screen, meaning they don’t need to invest in a Pro version just to get a 30% bump in display size.

Apple kept the same design for the iPad Air that it first revealed in 2020, complete with a USB-C port and Touch ID in the top button. The only difference is the front camera placement, which has been moved to the center of the iPad when in landscape orientation.

The 11-inch iPad Air is priced at $599 for the entry-level model, while the 13-inch version starts at $799.

Also Read: How To Clean Your Apple Watch Like A Pro

New Magic Keyboard Case

Apple also announced an updated (thinner, lighter) Magic Keyboard for its Pro iPads. The refreshed version now includes a function row (with controls for screen brightness). An aluminum palm rest and large trackpad with haptic feedback also help the premium case feel more like a Macbook.

The new Magic Keyboard is available for both the 11-inch and 13-inch iPad Pros and will be priced at $299 or $349, respectively.

Apple Pencil Pro

Apple also announced a new Apple Pencil, named Pro, at its event. The new model looks exactly the same but adds a “squeeze” function that opens a new tool palette. Meanwhile, a built-in gyroscope sensor lets you alter the orientation of the tools you’re using as you twist the device, offering finer control. Finally, the new pencil gets support for Apple’s Find My network, which should keep minds at rest at the prospect of losing the $129 device.

Finally, to round off Apple’s series of announcements, the entry-level iPad was reduced to $349 — a $100 price cut.

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