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Oman to Include Real Estate Tokenization

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October 12, 2022
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Oman to Include Real Estate Tokenization Harare Institute of Technology, a Zimbabwean higher learning institution, is reportedly developing a central bank digital currency (CBDC). Quinton Kanhukamwe, the institution’s vice-chancellor. cryptocurrency news predictions Said that digital currency is expected. To help eliminate vices such as currency manipulation. Unsanctioned foreign exchange deals.

Eliminating Illegal Foreign Exchange Deals.

A Zimbabwean tertiary learning institution, the Harare Institute of Technology (HIT) is developing. A central bank digital currency (CBDC). coinmarketcapThe organization’s vice chancellor Quinton Kanhukamwe has said. According to Kanhukamwe, the envisaged CBDC is expected. To help eliminate vices such as currency manipulation. The hoarding of cash, as well as illegal foreign exchange deals.

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As per his remarks published by the Herald, Kanhukamwe, who spoke at graduation. The ceremony was also attended by Zimbabwean President. bitcoin news today Emmerson Mnangagwa revealed how the blockchain-anchored CBDC can potentially bring the unbanked into the formal banking system. He said:

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority’s (OCMA)’s virtual asset regulatory framework. breaking crypto new According to an advisor with the authority, the tokenizing of real. The estate will open investment opportunities for local and foreign investors.

Real Estate Tokenization Creates Investment Opportunities.

Oman Capital Market Authority (OCMA) is set to include real estate tokenization in its virtual asset regulatory framework, a report quoting an advisor of the authority has said. According to the report. Oman expects to complete drafting the virtual assets regulatory framework by Q3 of 2022.

The advisor, Kemal Rizadi is reported to have made a crypto crash today the remarks about tokenizing real estate property while attending the Real Estate Exhibition and Conference that was held in Muscat, Oman.

“The Regulatory Framework for Virtual Assets and Virtual crypto news alerts asset service providers currently being established will allow the issuance of virtual assets such as real estate tokens for the first time in the Sultanate of Oman,” Rizadi is quoted explaining.

The advisor suggested the tokenization of real estate — the supposed conversion of real estate property into several blockchain-based tokens — will likely “open up investment opportunities in the real estate sector for local and foreign investors.”

Internationally Benchmarked Regulatory Framework.

As previously reported by Bitcoin.com News, OCMA announced in January it was inviting bids from firms interested in helping the country set up a regulatory framework for virtual assets. Interested bidders had to submit tenders before March 23. Meanwhile, Rizadi is quoted in the report revealing that the capital markets authority is currently working with experts whom he said will help Oman “draft an internationally benchmarked regulatory framework.”

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