Honestly all the Groundbreaking stuff and Inventions and all the good stuff made and used is Created in Europe or USA or Canada. So if UAE decides to do something with coins and blockchain it literally means nothing.
Why so hostile? If more people are innovating with cryptocurrency it means that more people are going to adopt it. I do not think that Europe or USA are the leaders in innovation I guess you are from a western country and listen to what the news wants you to think. Asian countries have done a lot of innovation and their economies are growing because of the innovation.