The Middle East has fast been establishing itself as both friendly to and a hub for cryptocurrency companies

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Cryptocurrencies and blockchain technology has come under increasing regulatory scrutiny in the Western world with recent executive orders and more from President Biden emerging in the US, controversy over proposed changes to the MiCA directive in the European Union and Treasury announcements expected in the UK regarding new crypto regulatory frameworks in the UK.

Meanwhile, the Middle East has fast been establishing itself as both friendly to and a hub for cryptocurrency companies and actors in the space.

Dubai in particular has been showing open arms to digital asset companies and this has been reaffirmed via recent announcements from some blue chip institutions in the space.

In a statement released yesterday, Crypto.com released plans to construct a “significant” presence in the region.

What’s more, ByBit made clear it’s intentions to move its global headquarters to the emirate, in a recent blog post.

ByBit will begin operations in the jurisdiction as early as April of this year having been granted approval to carry out a “full spectrum” of digital asset operations in Dubai.

Both Crypto.com and ByBit join the likes of Binance and FTX in expanding their operations to the UAE and it only goes to show that not all states are hostile and skeptical of cryptocurrency. Even Singapore, previously touted as a home to the likes of Crypto.com and Binance, tightened restrictions around consumer-facing marketing earlier this year…

https://www.bloomberg.com/news/articles/2022-03-29/crypto-com-bybit-announce-plans-to-set-up-operations-in-dubai

- guy from CoinBureau