The UAE’s proactive approach to crypto regulation is catching the eye of the international press, with MENA CEO at crypto platform OKX Rifad Mahasneh saying in a CNBC interview (watch, runtime: 05:34) that the Emirates are setting the pace in the field. Mahasneh praised the country’s forward-looking attitude, noting that amid regulatory uncertainty elsewhere, “the UAE stood out as a market where it has the right foundations for any crypto exchange or crypto business to succeed.”

What’s driving this leadership? Mahasneh pointed to the presence of “multiple regulators in the same space” — covering exchange houses, insurers, brokers, and custodians — as a key strength. “Talent within the crypto sector is naturally migrating now to the UAE,” Mahasneh said, adding that the Emirates provide regulatory stability for the fast-developing sector.

This momentum isn’t likely to slow down: Regulation needs to keep pace with innovations in payments and real-world asset tokenization, and the UAE’s constant regulatory developments, like the recent stablecoin regulation, prove its leadership in the field as crypto offerings continue to expand. As industry regulation increases, more sovereign wealth funds will enter the space, Mahasneh predicted. This follows Abu Dhabi AI fund MGX’s recent USD 2 bn investment in cryptocurrency exchange Binance.

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