2024 cemented the UAE’s status as a global crypto hub as its landscape changed substantially with new stablecoin regulations, tax exemptions and stricter marketing rules.
Web3 professionals pointed toward talent and capital, Shariah-compliant crypto services and dirham-pegged stablecoins when asked about crypto trends in the Middle East.
Growing demand for US dollar-backed stablecoins and regulatory uncertainty in the US are the key reasons for stablecoins thriving in other jurisdictions.