Crypto Hotbed: Dubai
In recent years, Dubai has emerged as a hotbed for crypto activity owing to the emirate’s strategic policies. The establishment of VARA was a major turning point for the region, which has, so far, proved instrumental in providing clarity to several crypto firms distressed by the US’s approach to regulating the industry.
Despite prohibiting involvement with privacy-centric coins under the new regulatory regime, the city has opened arms to several crypto exchanges, including OKX, Bybit, and more.
A recent study published by Recap revealed that Dubai hosts nearly 800 crypto-based companies as of January 2023 for residents to choose from when it comes to finding a career in the sector. Its 0% tax regime also makes it a favorable venue for crypto investors.
