Canadian University Dubai’s Crypto Partnership with Binance Pay Stalls Due to Technical Issues
The Canadian University Dubai (CUD), a private university located in Dubai, recently announced its partnership with Binance Pay to accept course fees in cryptocurrencies.
The move would have allowed domestic and international students to pay their tuition fees using various cryptocurrencies.
However, a technical roadblock only a day after the announcement put a damper on the excitement for the short-lived initiative.
The university has not yet commented on the situation. Still, the recent release of crypto regulations for virtual asset service providers (VASPs) in Dubai by the Virtual Asset Regulatory Authority may have played a role in the setback.
Irina Heaver, a crypto and blockchain lawyer based in the United Arab Emirates, stated that the regulations are “long-awaited and most welcomed.”