What Kind of Facilities does Dubai UAE Offer to Crypto Projects or
Businesses?
Cryptocurrencies are receiving mixed reception around the world,
but Dubai is doubling its efforts to keep itself at the forefront
of technology.
One of the most digitally friendly countries in the world is
moving. At the beginning of the Emirate of Dubai 2022, the
Landmark Regulatory Authority demonstrated its commitment to the
virtual economy, which was in stark contrast to the more cautious
approach of some Western regulators.
Dubai's focus on digital assets and cryptocurrencies means that
the UAE is well-positioned to capitalize on the region's largest
growth. According to Gemini's 2022 Global State of Crypto report,
the total venture capital investment in Crypto and Blockchain
startups has exceeded $ 30 billion, with more than $ 10.5 billion
in the last third quarter of 2021 alone. According to the report,
the cryptocurrency market capitalization has reached $ 3 trillion
by 2021 and Bitcoin has reached a peak of more than $ 65,000,
making crypto the best performing asset in the last ten years.
In February 2022, Dubai announced a regulatory framework for
virtual assets with cryptocurrency, which many see as the UAE's
fastest bid to become a leading digital asset hub. In addition, a
new regulatory body, the Virtual Assets Regulation Authority
(VARA) of Dubai, was created. In May 2022, VARA became the first
regulator to have a presence in Metavors with the establishment of
its Metavar headquarters. VARA's virtual presence will serve as a
primary channel for deploying all-India virtual property service
providers to launch applications, welcome new licensees, share
expertise and drive the worldwide interoperability of the world.
As Dubai is the most loved hotspot for crypto projects,
cryptocurrency lawyers and blockchain lawyers of Finjuris are
always ready to help its clients in the most effective manner.
Apart from these cryptocurrency lawyers and blockchain lawyers,
Finjuris are doing instrument roles in legal services for
Cryptocurrency & Blockchain Related Projects, Civil litigation and
disputes, Regulatory advice, Corporate and commercial services,
and Fraud claims.
