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Dubai’s New Crypto Law Attracts By bit And To Set Up Local Offices.



The cryptocurrency exchange By bit announced on Monday it is moving the headquarters of its subsidiary from Singapore and moving it to Dubai in the same week announced it would establish a regional hub office in Dubai. The announcements coincide with Dubai’s new laws that aim to make the emirate an international hub for crypto-assets and related industries such as the metaverse.

By bit has been granted in-principle permission to operate a “full-spectrum” of virtual asset-related businesses in Dubai, The company announced in an announcement. The new headquarters is scheduled to open in April.

“By bit looks forward to contributing to the virtual assets innovations of the emirate’s vibrant economy and having our global headquarters in Dubai,” said Ben Zhou, co-founder and CEO of By bit. “This in-principle approval is an extraordinary opportunity for By bit to support the United Arab Emirates and the wider region’s ambition to become a global virtual assets technology hub.”

In the meantime, said it is planning to establish a “significant presence” in Dubai. Its business, originally founded with its headquarters in Hong Kong but later moved to Singapore, has also said that it plans to launch massive recruitment efforts in the next few months.

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By bit And, are the top platforms in the cryptocurrency space? In 2018, the two platforms were founded. Bit handled more than 10 billion in crypto spot and derivatives transactions during 24 hours in the week ending on Tuesday, according to the tracker CoinGecko. began operations in 2016 handled the equivalent of $5 billion in derivatives and spot trades at the same time.

In March, the two companies’ announcements follow Dubai’s acceptance of a new law that governs virtual asset firms, which includes custody and trading services. The law did not specify the scope of virtual assets, which typically comprises cryptos and tokens that are non-fungible (NFTs).

The new regulations are an element of the United Arab Emirates’ drive to become a global cryptocurrency hub. It has already attracted the attention of the world’s biggest cryptocurrency exchange Binance, which was granted the license to run its regional business out of Dubai. The European affiliate of the crypto trading company FTX has also declared that its regional office will be in Dubai.

By bit and’s move also comes as Singapore tightens up its regulatory hold on cryptocurrency. The city-state opened its doors to crypto companies through an authorization process in January 2020. However, it then restricted them from promoting its services for sale to the general public.

Singapore’s authorities earlier announced that they had received 170 applications from cryptocurrency-related service providers. However, only ten licenses have been granted to date. More than 100 businesses have rejected or withdrawn their applications as per Nikkei Asia, which cites official numbers. One of those is Binance, which revealed in December that its Singapore affiliate had pulled its application.

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The best criminal defense attorney newark nj are hard to come by. Criminal defense attorneys that are well-known and frequently appear on the front pages of newspapers for representing so-and-so aren’t usually the best in the industry. Perhaps their popularity stems from their willingness to work for the highest bidder, regardless of whether the clients they’re about to represent are guilty beyond doubt.

It is determined on a case-by-case basis.

Always keep in mind that each court case is distinct from all others because it may involve various clients and lawyers, as well as diverse causes and surroundings. As a result, keep in mind that the greatest criminal defense attorneys in the eyes of others may not be the best criminal defense attorneys to entrust with defending your rights. It’s important to remember that the term “best” is a highly subjective term.

Characteristics of Attorneys

The top criminal defense attorneys have the following characteristics and qualities. Any lawyer who does not meet ALL of the following requirements will never be considered the best

They have a lot of expertise.

A decade of criminal defense experience is sufficient to qualify lawyers as the best in the industry. When looking for the best criminal defense lawyers, make sure you hire lawyers that have the required number of years of experience in the state where your case was filed. To summarise, if your case is being tried in Illinois, you must hire a lawyer who has extensive expertise handling criminal defense matters in the state. Keep in mind that each state has its own set of rules, and selecting an attorney who isn’t knowledgeable with them may not be able to identify loopholes that could lead to your acquittal.

They have specialized areas of knowledge.

Criminal defense encompasses a wide range of offenses that can be grouped into four categories: white collar or business crimes, sex crimes, drug offenses, and violent offenses. You should pick an attorney who is widely regarded as the best in the field in which your case falls. A criminal defense attorney who focuses on drugs may not be up to date on the latest sex crime bills and laws. When you employ a criminal defense attorney with specific skills to defend your rights, you may rest assured that the other party is unaware of anything that YOUR attorney is aware of. As a result, their ability to articulate a case will be crucial in the battle of wills. And if you’re not guilty.

They have an above-average success rate when it comes to winning cases.

Experience alone does not make an attorney the best. Even if an attorney has been handling criminal defense cases for twenty years, if he does not have proof to back up his claim, he will not be considered the best in his area. Of course, evidence comes in the form of the number of instances won vs. the number of cases lost. Before paying any legal fees or engaging an attorney, thoroughly investigate the attorney’s history and experience.

Find out how he handled previous cases, what his skills and shortcomings are, and how he handles pressure if at all feasible.

Respect is a broad concept, but you can rest assured that the top criminal defense lawyers respect their clients in every way possible. First and foremost, they never bully their clients because they value their autonomy. Second, they respect their clients’ integrity by never asking them to lie under oath, even if it means saving their skins. They also demonstrate respect by swiftly returning calls and attending to demands, regardless of whether the client is wealthy or not.

If you’re wondering whether you should hire a criminal defense lawyer, the answer is unmistakably “yes.” Criminal defense attorneys have the power to influence the outcome of a criminal investigation or trial. Your criminal defense lawyer will ensure that your rights are safeguarded throughout the police investigation, will investigate the criminal justice system after charges have been filed, and will fight the government’s case at trial.

You may not know you require legal representation until you are presented with a citation or a warrant. It’s possible that law enforcement officers will complete their investigation without ever speaking with you. Even if law enforcement contacted you, the police may not have told you of their intention to bring charges. Lawyers are usually hired after criminal charges have been filed for these reasons.

The work of your defense lawyer begins as soon as he is hired. You may be arrested and required to post bail or remain in detention in some situations. The arresting officer is supposed to read you a statement of your rights at the time of your arrest. You have the right to an attorney, and your lawyer should be present during all interrogations while you are in detention. Your lawyer may also be able to help you reduce your bail or secure your release under a pre-trial monitoring program.

If the police have contacted you, you should call a criminal defense attorney right once to speak with them on your behalf. Your lawyer will make sure you don’t give the cops any remarks or evidence that could be used against you later. Your lawyer will also investigate and preserve evidence that will help you win your case. If there is any favorable evidence, your lawyer will utilise it to persuade prosecutors not to pursue charges against you.

There could be other indications that you’re being investigated for a crime. If you’ve been involved in illicit activities and your co-conspirator starts acting strangely, he could be working with the cops. Your boss may suspect misconduct if he sees you sitting at your computer or browsing through your files. Trust your gut feelings. If something doesn’t feel right, it probably is.

Most criminal defense lawyers don’t consult with persons who are planning to commit a crime in the future. Your criminal defense attorney, on the other hand, can counsel you on the possible implications of previous criminal behavior. Your lawyer can also communicate with law enforcement to find out the status of the criminal investigation and help you reduce or avoid criminal charges.

It is never too early to seek the guidance of a  criminal lawyer newark nj  if you are facing criminal accusations.

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