UAE Crypto Infrastructure More Business-Friendly Than US, Says Executive

  • Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse Share Thoughts on US Regulation at Dubai Fintech Summit.
  • Saqr Ereiqat, co-founder of Crypto Oasis, Highlights United Arab Emirates’ Favorable Infrastructure for Crypto Businesses at Dubai Fintech Summit.

In a conversation with Cointelegraph, Saqr Ereiqat emphasized the key factors businesses should consider when choosing a location for their companies. These factors include a robust regulatory infrastructure, advanced digital infrastructure, and the ability to attract top talent from around the world. Ereiqat stated that the United Arab Emirates excels in all these aspects, making it an ideal choice for crypto businesses.

JOIN CRYPTOS HEADLINES TELEGRAM CHANNELTelegram Logo

In comparing the regulatory frameworks of the UAE and the US, Ereiqat acknowledged that both countries have their own unique strengths and weaknesses within the crypto space. However, he highlighted that the UAE has demonstrated a more proactive approach to regulating cryptocurrencies. According to Ereiqat:

According to Ereiqat, the regulatory framework in the UAE is characterized by its streamlined and business-friendly nature, which stands in contrast to the complex and fragmented regulatory environment in the US.

Furthermore, Ereiqat acknowledged the increasing interest in the crypto and blockchain space within the region. He revealed that the latest data indicates a notable presence of over 1,800 Web3 organizations in the area, employing over 8,000 individuals who actively contribute to the industry’s growth. Ereiqat further stated:

Ereiqat regarded the Dubai FinTech Summit as a significant gathering of key players in the fintech industry. He highlighted the event’s significance, noting the participation of crypto and Web3 leaders and projects. According to him, their presence serves as a noteworthy indicator of the increasing interest and adoption of these innovative technologies within the region.

During a fireside chat at the Dubai Fintech Summit, Coinbase CEO Brian Armstrong echoed similar sentiments. He expressed the view that the United States is somewhat lagging behind in terms of regulatory clarity compared to other regions. However, Armstrong also highlighted the exciting potential for the US to become an international hub for Coinbase, showcasing the company’s interest in expanding its presence in the country.

Centered JavaScript

Author

  • Salim

    "Salim is a news writer at CryptosHeadlines who creates excellent, well-optimized content to ensure user satisfaction. He is skilled in forecasting News About Cryptocurrency Market & blockchain Industry."

    View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *