Last year, Dubai and other UAE countries took important steps to rapidly adopt cryptocurrencies. For example, they launched the Dubai Metaverse strategy and issued a number of licenses to top international exchanges. In October 2022, 21 Shares launched the first Bitcoin ETP in the Middle East. It is traded on the Nasdaq Dubai international financial exchange under the ABTC ticker.

As of January 2023, more than 500 crypto startups have registered in the Dubai Free Economic Zone. This is a very good result!

In my opinion, while some countries are focused on tightening controls, Dubai's experimental approach could become a benchmark for other regions.