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.
They’re competing to lead the digital world, and removing taxes is a smart move for them to help crypto grow in the country. I believe they’re not focused on immediate profits but rather on the long-term benefits, which makes sense. They have plenty of resources to collect taxes from, so since crypto is still new, it’s a good call not to be too aggressive with taxes. Hopefully, other countries will follow suit because sometimes heavy taxes slow down progress and development.