{"id":23128,"date":"2023-08-28T08:48:10","date_gmt":"2023-08-28T08:48:10","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/omans-crypto-ventures-raise-questions-on-sharia-compliance\/"},"modified":"2023-08-28T08:48:10","modified_gmt":"2023-08-28T08:48:10","slug":"omans-crypto-ventures-raise-questions-on-sharia-compliance","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/omans-crypto-ventures-raise-questions-on-sharia-compliance\/","title":{"rendered":"Oman’s Crypto Ventures Raise Questions on Sharia Compliance"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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The Sultanate of Oman, which is situated on the Arabian Peninsula\u2019s southeast coast, is stepping up its cryptocurrency activities as a result of several sizeable investments made this month. This West Asian country is laying out its plans to emerge as a significant digital center in an area where great rivalry for digital dominance exists.<\/p>\n

A Flourishing Investment Landscape<\/strong><\/h2>\n

The Omani government outlined plans in August for new investments totaling about $800 million that will go toward cryptocurrency mining activities. The announcement of a historic $300 million alliance with the Abu Dhabi-based Phoenix Group on August 23 marked a turning point. This partnership plans to build a powerful 150 megawatt cryptocurrency mining farm that will be operating in 2019. The first legal cryptocurrency mining company in Oman, Green Data City, is a partner in this endeavor.<\/p>\n

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Muscat approved a massive $370 million project run by Exahertz International a few weeks before. The deployment of an extra 15,000 mining equipment by October is part of their ambitious strategy. These advancements represent an important step forward for Oman\u2019s digital growth.<\/p>\n

Oman\u2019s Digital Ambitions<\/strong><\/h2>\n

The Minister of Transportation, Communications, and Information Technology of Oman, Said Hamoud al-Maawali, praised these investments as a \u201cmajor milestone\u201d in the country\u2019s efforts to \u201chelp accelerate the growth\u201d of its digital economy. This tactical step demonstrates Oman\u2019s dedication to becoming a significant player in the world of cryptocurrencies.<\/p>\n

The goals of Oman go beyond bitcoin mining<\/a>. It includes a larger approach meant to foster a vibrant digital environment. The nation is setting itself up to take advantage of the possibilities of blockchain technology, digital currencies, and the larger digital economy with these significant expenditures.<\/p>\n

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Oman\u2019s development as a digital center in the Middle East becomes more feasible as the crypto-mining farms take shape and the digital environment changes. These investments not only improve the country\u2019s economic outlook but also demonstrate its will to maintain its lead in the global digital race.<\/p>\n<\/p><\/div>\n

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(Originally posted on : Crypto News – iGaming.org ) The Sultanate of Oman, which is situated on the Arabian Peninsula\u2019s southeast coast, is stepping up its cryptocurrency activities as a result of several sizeable investments made this month. This West Asian country is laying out its plans to emerge as a significant digital center in […]<\/p>\n","protected":false},"author":34,"featured_media":23129,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23128"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23128"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23129"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}