The big theme this morning is looking back at 2025 — from IPOs and venture capital trends to real estate sales and prices in Dubai. But the big story of the day is a major regulatory change from the Dubai Financial Services Authority, which has done away with its recognized crypto token list and has shifted responsibility for crypto token “suitability” onto firms. Plus: It removed crypto investment caps for fund managers. 

The move allows firms and funds a lot more flexibility to hike (and diversify) crypto exposure, but this comes with a much heftier compliance burden.