Dubai: Launching a Crypto Regulatory Arm to Become a Global Financial Power

The center of the crypto universe has been shifting toward Dubai since March 2022, when the UAE announced the world’s first independent crypto regulator: the Virtual Asset Regulatory Authority. With its stated intention to provide legal clarity for crypto, the No. 5 spot in CoinDesk’s Crypto Hubs 2023 has attracted jurisdiction shoppers such as Binance CEO Changpeng Zhao and crypto exchange WazirX.