Home Crypto News Canadian College Dubai backtracks on accepting crypto by way of Binance Pay

Canadian College Dubai backtracks on accepting crypto by way of Binance Pay

by Cryptoroz

Not even 24 hours after the Canadian College Dubai (CUD) introduced its partnership with Binance Pay to just accept course charges in cryptocurrencies, a technical roadblock watered down the thrill behind the short-lived initiative.

CUD, a non-public college in Dubai, was seemingly excited by permitting college students — each home and worldwide — to pay their tuition and course charges in cryptocurrencies. This initiative would have allowed college students from diversified backgrounds quick access to the Canadian curriculum in Dubai.

Binance Pay, a cost gateway service launched by crypto alternate Binance, permits companies to combine assist for cryptocurrency funds. In keeping with the college’s preliminary announcement, the Binance partnership allowed the establishment to “have tailored to the reworking digital cost area.”

Binance Pay helps over 200 cryptocurrencies, together with Bitcoin (BTC), Dogecoin (DOGE) and Ethereum (ETH), and expenses 0 charges per transaction. On Feb. 7, Binance hosted a cryptocurrency workshop and knowledge session for CUD whereby college students had been taught about blockchain fundamentals, crypto fundamentals, web3 and metaverse.

Canadian College Dubai complete variety of college students. Supply: topuniversities.com

As proven above, CUD is house to over 1800 home and worldwide college students — enrolled in one of many 25 undergraduate and 6 graduate applications — who pay a yearly tuition price of $18,000.

Canadian College Dubai has not but responded to Cointelegraph’s request for remark.

Associated: Crypto initiatives reply to privateness coin ban in Dubai

Proper when Binance was eyeing a partnership with CUD, Dubai launched crypto rules for digital asset service suppliers (VASPs) on Feb. 7. The Digital Asset Regulatory Authority (VARA) issued its “Full Market Product Rules,” which embrace 4 obligatory rulebooks and activity-specific rulebooks that lay down the foundations for working VASPs.

“Regulatory certainty is superb for enterprise. It’s good for customers, buyers and for the Emirate of Dubai. The rules are long-awaited and largely welcomed,” mentioned Irina Heaver, a crypto and blockchain lawyer primarily based within the United Arab Emirates, chatting with Cointelegraph.


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