2 years ago
Before hitting a method roadblock, CUD was seemingly funny successful collecting tuition and people fees successful cryptocurrencies from some home and planetary students.
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Not adjacent 24 hours aft the Canadian University Dubai (CUD) announced its concern with Binance Pay to judge people fees successful cryptocurrencies, a method roadblock watered down the excitement down the short-lived initiative.
CUD, a backstage assemblage successful Dubai, was seemingly funny successful allowing students — some home and planetary — to wage their tuition and people fees successful cryptocurrencies. This inaugural would person allowed students from varied backgrounds casual entree to the Canadian program successful Dubai.
Dear CUD Community,
For method reasons, CUD volition not beryllium accepting cryptocurrency arsenic a method of payment, until further notice.
We apologize for immoderate inconvenience. pic.twitter.com/b9rERYHR7g
Binance Pay, a outgo gateway work launched by crypto speech Binance, allows businesses to integrate enactment for cryptocurrency payments. According to the university’s archetypal announcement, the Binance concern allowed the instauration to “have adapted to the transforming integer outgo space.”
#Binance helps bring crypto to @CUDUAE, a starring assemblage successful Dubai.
Prospective and existent students tin present wage their fees, including tuition fees, with crypto.
Powered by Binance Pay. pic.twitter.com/bqWuezZVKJ
Binance Pay supports implicit 200 cryptocurrencies, including Bitcoin (BTC), Dogecoin (DOGE) and Ethereum (ETH), and charges 0 fees per transaction. On Feb. 7, Binance hosted a cryptocurrency store and accusation league for CUD wherein students were taught astir blockchain fundamentals, crypto fundamentals, web3 and metaverse.
Canadian University Dubai full fig of students. Source: topuniversities.comAs shown above, CUD is location to implicit 1800 home and planetary students — enrolled successful 1 of the 25 undergraduate and six postgraduate programs — who wage a yearly tuition interest of $18,000.
Canadian University Dubai has not yet responded to Cointelegraph’s petition for comment.
Related: Crypto projects respond to privateness coin prohibition successful Dubai
Right erstwhile Binance was eyeing a concern with CUD, Dubai released crypto regulations for virtual plus work providers (VASPs) connected Feb. 7. The Virtual Asset Regulatory Authority (VARA) issued its “Full Market Product Regulations,” which see 4 compulsory rulebooks and activity-specific rulebooks that laic down the rules for operating VASPs.
⚠️Dubai News
Dubai's Vurtual Assets and Regulatory Authority issued the long-awaited Full Market Regulations for Vurtual Assets Services Providers (VASPs).
“Regulatory certainty is precise bully for business. It is bully for consumers, investors and for the Emirate of Dubai. The regulations are long-awaited and mostly welcomed,” said Irina Heaver, a crypto and blockchain lawyer based successful the United Arab Emirates, speaking to Cointelegraph.
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