The Dubai World Trade Centre Authority (DWTCA) announced Wednesday that it had signed an agreement with the UAE’s Securities and Commodities Authority (SCA) to support the regulation and trading of crypto assets within the DWTCA free zone.

People can now seamlessly tip with Bitcoin using Strike – a payments application built on the Bitcoin Lightning Network that allows people to send and receive Bitcoin.

Cryptocurrency exchange FTX announced Thursday that it has signed a long-term sponsorship deal with the Formula One (F1) racing team Mercedes-AMG Petronas.

Top stories in the Crypto Roundup today:

• UAE Regulators Approve Crypto Trading in Dubai Free Zone
• Tipping With Bitcoin Over the Lightning Network
• Crypto Exchange FTX Signs Deal with F1 Team Mercedes-AMG Petronas

UAE Regulators Approve Crypto Trading in Dubai Free Zone

The Dubai World Trade Centre Authority (DWTCA) announced Wednesday that it had signed an agreement with the UAE’s Securities and Commodities Authority (SCA) to support the regulation and trading of crypto assets within the DWTCA free zone.

The new initiative establishes a framework enabling the DWTCA to issue necessary approvals and licenses for financial activities related to cryptocurrencies. As part of the agreement, the SCA will also supervise major crypto-related activities, such as issuance, listing, trading and licensing processes.

According to the announcement, the agreement was signed by SCA acting CEO Maryam Al Suwaidi, DWTCA director-general Helal Saeed Al Marri, as well as an executive at the Dubai Department of Tourism and Commerce Marketing. Al Suwaidi stated:

“As Dubai continues its drive towards an innovation and digital-led economy, DWTCA is looking to support businesses underpinned by blockchain and cryptographic technologies”

Tipping With Bitcoin Over the Lightning Network

People can now seamlessly tip with Bitcoin using Strike – a payments application built on the Bitcoin Lightning Network that allows people to send and receive Bitcoin. Strike offers instant and free payments globally. 

Strike is available to people in El Salvador and the U.S. (excluding Hawaii and New York). People in the eligible markets will have to sign up for a Strike account and add their Strike username to receive Bitcoin tips over the Lightning Network.

Crypto Exchange FTX Signs Deal with F1 Team Mercedes-AMG Petronas

Cryptocurrency exchange FTX announced Thursday that it has signed a long-term sponsorship deal with the Formula One (F1) racing team Mercedes-AMG Petronas.

The length of the deal hasn't been disclosed, but FTX said it will span multiple race seasons, with the FTX logo being featured prominently on both the cars and the drivers. Part of the FTX branding will be unveiled during the upcoming Russian Grand Prix on September 26, said the exchange.

The FTX logo will also be featured on Mercedes-Benz trucks, in the garage, and in hospitality and communications facilities. FTX said it will also have access to the F1 team's members, including drivers Lewis Hamilton and Valtteri Bottas, to further expand the reach of its brand to F1's global fan base. FTX and Mercedes F1 also plan to collaborate on initiatives such as FTX Pay integration, an NFT collection, and corporate social responsibility initiatives.

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