Digital currencies have the ability to increase the gains achieved in terms of the efficiency of financial and other transactions in different countries, and digital currencies will most likely take

.over the role of cash currencies at some point

As 6 million wallets were opened during the last two years alone, the digital currency market expects an annual growth

of 7 percent during the period until 2020

In 2022, the Binance platform was able to obtain a license to conduct its activities within the initial regulatory phase of the Dubai Virtual Asset Regulatory Authority, which includes strict regulatory oversight and mandatory compliance with the Financial Action Task Force (FATF) controls

The license allows the leading global platform to offer limited trading products and services to investors and specialized financial institutions with prior approvals. All service providers licensed by the Dubai Authority to regulate virtual assets are subject to constant monitoring.

All the way to opening the way for them to provide their services to individual traders. In addition to its operations in the field of virtual asset trading, Binance will establish a center for blockchain technologies in the Dubai World Trade Center, to support new talent and develop a vibrant ecosystem in this field in the emirate

And in a proactive step from the Zakat Fund, it was able to obtain a fatwa permitting zakat on digital currencies in the event that it is recognized and implemented by the UAE government

He also studied the establishment of a platform to receive zakat in digital currencies, in partnership with a private company

By linking with a digital currency exchange and preparing a zakat calculator for digital currencies, which is the first of its kind in the world and will be launched soon, God willing