Dubai

The Senate’s failure to advance the Clarity Act keeps U.S. digital asset policy largely in the hands of the SEC and CFTC. Market participants say the stalemate protects bank deposits from yield-bearing stablecoins while giving clearer offshore regimes such as the UAE another opening to attract crypto firms.

Coinbase is building an international tokenization hub in Abu Dhabi after receiving permission from the Abu Dhabi Global Market regulator. The move gives the exchange a regulated base to offer tokenized securities backed by underlying shares outside the U.S.

Laser Digital, Nomura Group’s digital assets arm, has made a strategic investment in UAE-based Layer1 blockchain ZIGChain. The partnership targets institutional onchain vault products, private credit access across the Gulf States, and Sharia-compliant offerings.

A Dubai-based crypto exchange has become the focus of allegations involving a $4 billion Iranian sanctions-evasion network tied to illegal gambling platforms and sanctioned entities. Investigators say funds connected to Shelbit moved through major global crypto venues, while Binance says Shelbit never held an account on its platform and that it froze relevant accounts after review.

Crypto founders are increasingly turning to Dubai as the European Union’s MiCA framework tightens ahead of a July 1 deadline. Supporters of the move say the UAE offers faster, crypto-specific licensing and easier access to emerging markets.

Longtime crypto skeptic Nouriel Roubini has co-authored a whitepaper for USAFi, a tokenized investment product tied to the Atlas America Fund ETF. The project is expected to launch under Dubai's VARA framework in the third quarter of 2026.

Abdulla Kanoo, heir to Bahrain’s Kanoo business dynasty, is backing blockchain payment infrastructure aimed at speeding up cross-border trade. His firm, ARP Digital, has already processed more than $3.5 billion in volume for over 450 institutions.

Dubai's recent court ruling to validate cryptocurrency as a form of salary payment is a significant milestone, reflecting the city's commitment to financial innovation and setting the stage for broader global acceptance of digital currencies in mainstream financial systems.

Dubai's legal system has taken a major step forward by recognizing cryptocurrency as a valid form of salary payment, setting a new precedent for digital currency integration in employment contracts.