From Qatar to Palestine: How Cryptocurrencies Are Regulated in the Middle East

The Middle East seems to be on its way to become the global blockchain powerhouse: From Dubai to Tel Aviv, the technology is being thoroughly researched and adopted.

"Technologies such as blockchain take us a huge step forward in finding a secure way to facilitate transactions Blockchain's ability to protect user's data is a true mark of progress, especially due to the fact that it can be applied in different companies from different industries including cyber security."

The country's first university-level blockchain center aims to close the blockchain expertise gap and ensure wide deployment of the technology, as Daily Sabah reported.

Despite that the QCB has prohibited trading cryptocurrencies in the country, Qatar will host a blockchain conference in Doha.

The local ban on trading cryptocurrencies does not stop Saudi Arabia from experimenting with blockchain within its Saudi Vision 2030 program designed for long-term economic development.

Cryptocurrencies legal framework: No.Willingness to explore blockchain at state level: Yes.

Cyprus is home to the Cyprus Blockchain Technologies Ltd., a nonprofit organization founded as a collaboration among academic institutions, including Cyprus International Institute of Management, University College London Centre for Blockchain Technologies and UoN, local regulators, financial institutions and banks - including Hellenic Bank, Bank of Cyprus and Cooperative Bank.Israel.

Cointelegraph has previously covered Israel's vast blockchain scene in depth: Selva Ozelli, an international tax attorney and CPA, reviewed local blockchain initiatives, including the following: CoaIiChain, an interactive political platform that promotes the policies of an open government and eliminates the communication gap between the elector and the elected; a blockchain drone registry; and a national cryptocurrency.

Cryptocurrencies legal framework: No.Willingness to explore blockchain at state level: No. Regulation.

In September, U.S.-based blockchain startup ConsenSys announced that it would host a five-day blockchain event there starting on Oct. 17..