The United Arab Emirates (UAE) is becoming a hot spot for crypto trading, thanks to its “sensible” approach to regulations, according to industry experts.
Hedge Funds See Opportunity
Brevan Howard, a massive $35 billion hedge fund, is particularly interested in the UAE. Ryan Taylor, the firm’s head of compliance, said at a Dubai conference that UAE regulators are “hard” but want the crypto industry to thrive. They’re creating clear rules and are open to working with the industry to make them even better.
JPMorgan and DIFC See Growth
JPMorgan Asset Management agrees that the UAE is a great place for crypto. They see a lot of potential, especially in the equity market.
The Dubai International Financial Centre Authority (DIFC) is also excited about the UAE’s crypto scene. Jonathan Beardall, head of wealth and asset management at DIFC, says growth has been “unprecedented.” Dubai already has 65 hedge funds, and that number is expected to reach 70 soon.
UAE’s Crypto-Friendly Environment
The UAE’s approach to crypto regulation seems to be attracting big players in the industry. Their willingness to work with the industry and create clear rules is making the country a very attractive place for crypto businesses.
