A new law passed in 2022 by the UAE's Virtual Asset Regulatory Authority (VARA) aimed at
making Dubai a global hub for cryptocurrency assets and related industries.
Several major crypto players have already relocated to Dubai, including
Binance, Crypto, and
Bybit.
Over 11% of UAE residents own cryptocurrencies, placing the country in the top 10 for cryptocurrency adoption. This may also be the reason why many UAE companies have begun
accepting cryptocurrency as a form of payment for everything from groceries to real estate.
How do you rate Dubai's prospects?
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