His Highness Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai, highlighted the relevance that the inclusion of the digital assets industry has had on the economy of the emirate.

On social media, Al Maktoum declared that the decision taken three years ago of establishing VARA, the Dubai Virtual Assets Regulatory Authority, had positioned the emirate as one of the leading markets for digital assets.

“A completely new economic sector has been added to our national economy in just three years,” Al Maktoum stated, noting that the move allowed Dubai to lead the world as the largest licensed virtual assets market, with trading volumes of over 2.5 trillion dirhams, or over $680 billion from January 2025.

While countries like the U.S. had stances that opposed the regulation of digital assets, being perceived as hostile to the digital assets industry, Dubai opened its gates and allowed the industry to thrive, establishing itself as a foothold for companies seeking clear rules.

Dozens of companies have become regulated in the UAE, including big names like Bitgo, Nexo, Gate, and Crypto.com, among others.

This allowed Dubai to grow to be the digital assets hub that it is today, while the U.S. and other nations are still playing catch-up.

Cardano founder Charles Hoskinson chimed in on this issue, criticizing the policies of the former Administration regarding digital assets. Hoskinson stressed:

Almost all of this business could have been American. Real numbers and real consequences to the prior regime’s regulatory crackdown, and the continued uncertainty legislative obstruction creates.

Digital assets will continue to be a strong vertical for Dubai, as it maintains its leading position as one of the world’s most cryptocurrency-friendly jurisdictions and a pioneer in digital assets regulation. Likewise, trading volumes will continue to grow as more businesses enter the country and start offering their crypto services.

• What role has Sheikh Mohammed bin Rashid Al Maktoum played in Dubai’s digital assets industry?
  He emphasized the significant impact of digital assets on Dubai’s economy and praised VARA for regulating this sector.

• How has Dubai positioned itself in the global digital assets market?
  Dubai has become one of the largest licensed virtual assets markets, documenting over 2.5 trillion dirhams in trading volume since January 2025.

• What contrasts exist between Dubai and the U.S. regarding digital asset regulation?
  While the U.S. has been seen as hostile to digital asset regulation, Dubai has embraced it, enabling companies to thrive in a clear regulatory environment.

• What is the future outlook for digital assets in Dubai?
  Dubai is expected to maintain its cryptocurrency-friendly status as more businesses arrive and trading volumes continue to grow.

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