♾ The UAE now has $40 billion worth of Bitcoin, according to a report by Binance founder Changpeng "CZ" Zhao

⏺ The UAE has prepared for this Bitcoin boom with progressive laws, government programs, and an open-door policy for blockchain companies.

⏺ In 2022, the Dubai Multi Commodities Centre (DMCC) Crypto Centre and the Virtual Assets Regulatory Authority (VARA) attracted global blockchain startups.

⏺ The Securities and Commodities Authority (SCA) oversees virtual asset operations, while the Dubai Financial Services Authority (DFSA) oversees financial free zones, balancing regulation and innovation in the UAE.

⏺ The UAE received $34 billion in cryptocurrencies between July 2023 and June 2024, with Bitcoin accounting for 19%.#BinanceAlphaAlert