UAE is a very innovative country. I don't understand why European countries hesitate to adopt crypto and lower taxes but among developing countries, the competition is growing in the crypto space. Some might not notice but many countries are fighting to attract crypto investors. For example, Kazakhstan offers very cheap electricity, my country also offers cheap electricity and partners with companies like Binance, Tether and BitFury to build and implement blockchain technologies but I guess we lack marketing because Georgia never gets mentioned while El Salvador and UAE are mentioned frequently.
They have literally built an entire nation based on these innovations and progressive thinking. While most of the world think they are just another Arab country, they are not like any others and they are quite progressive when it comes to business world and helped with so many companies grow their business while being there too.
UAE has always been at the forefront of trying to make their nation look good to build a headquarters, and plenty of companies do have their headquarters there. Plus, they are not some backwards place where they ban everything, they do allow most things and sort of like a western country as well, which allows westerners to come in, build their company and live a comfortable life based on cultural similarity or at least understanding of it. This is why they are going to end up with a much better result when the time comes, they are growing, and I believe they will continue to grow and become a huge nation eventually.