Abu Dhabi

Animoca Brands received in-principle approval from Abu Dhabi’s FSRA to operate as a regulated fund manager within ADGM.

The company sees bitcoin as a store of value, similar to gold, a spokesperson told Bloomberg.

Farms caught mining cryptocurrency will face penalties, including a fine of 100,000 dirham ($27,000), doubled for repeat offenses.

With licenses held in Europe and now expanding in the Middle East, the firm aims to become a global on-chain...