News

Kuwait Bans Cryptocurrencies, Putting An End To Virtual Assets

The Gulf state has also prohibited cryptocurrency mining.

Published

1 year ago

July 28, 2023

kuwait bans cryptocurrencies putting and end to virtual assets

Kuwait has enacted a complete ban on virtual asset transactions, making it illegal to digitally trade, transfer, or invest cryptocurrencies in the country. The Capital Markets Authority (CMA) also noted that the ban would extend to mining cryptocurrencies.

Non-fungible tokens (NFTs) are included in the ban, but the legislation does not extend to digital representations of physical currencies, securities, or other financial assets.

The new law aligns with Kuwait’s 2013 legislation concerning money laundering and terrorist financing. People breaching the regulations could face severe penalties, including fines and even imprisonment.

MENA countries, including Algeria, Egypt, Morocco, Tunisia, Saudi Arabia, Qatar, Jordan, Turkey, Iran, and Iraq, have all imposed restrictions or bans on virtual assets over the last few years. However, in stark contrast, Bahrain and the United Arab Emirates have encouraged the use of digital assets, and cryptocurrencies in particular.

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Binance received a Dubai operating license in March 2022, around the same time the Virtual Assets Regulatory Authority was established there. Meanwhile, Bahrain’s Central Bank released a paper on virtual assets in November 2020, outlining how they could best be regulated and used in the Gulf state.

News

Samsung Smart Glasses Teased For January, Software Reveal Imminent

According to Korean sources, the new wearable will launch alongside the Galaxy S25, with the accompanying software platform unveiled this December.

Published

2 days ago

December 4, 2024

Nour Nasir

samsung smart glasses teased for january software reveal imminent

Samsung appears poised to introduce its highly anticipated smart glasses in January 2025, alongside the launch of the Galaxy S25. According to sources in Korea, the company will first reveal the accompanying software platform later this month.

As per a report from Yonhap News, Samsung’s unveiling strategy for the smart glasses echoes its approach with the Galaxy Ring earlier this year. The January showcase won’t constitute a full product launch but will likely feature teaser visuals at the Galaxy S25 event. A more detailed rollout could follow in subsequent months.

Just in: Samsung is set to unveil a prototype of its augmented reality (AR) glasses, currently in development, during the Galaxy S25 Unpacked event early next year, likely in the form of videos or images.

Additionally, prior to revealing the prototype, Samsung plans to introduce…

— Jukanlosreve (@Jukanlosreve) December 3, 2024

The Galaxy Ring, for example, debuted in January via a short presentation during Samsung’s Unpacked event. The full product unveiling came later at MWC in February, and the final release followed in July. Samsung seems to be adopting a similar phased approach with its smart glasses, which are expected to hit the market in the third quarter of 2025.

A Collaborative Software Effort

Samsung’s partnership with Google has played a key role in developing the smart glasses’ software. This collaboration was first announced in February 2023, with the device set to run on an Android-based platform. In July, the companies reiterated their plans to deliver an extended reality (XR) platform by the end of the year. The software specifics for the XR device are expected to be unveiled before the end of December.

Reports suggest that the smart glasses will resemble Ray-Ban Meta smart glasses in functionality. They won’t include a display but will weigh approximately 50 grams, emphasizing a lightweight, user-friendly design.

Feature Set And Compatibility

The glasses are rumored to integrate Google’s Gemini technology, alongside features like gesture recognition and potential payment capabilities. Samsung aims to create a seamless user experience by integrating the glasses with its broader Galaxy ecosystem, starting with the Galaxy S25, slated for release on January 22.