Dubai set for crypto firm influx as MiCA deadline pushes companies to reassess Europe
Dubai lawyer Irina Heaver says European founders are flocking to the UAE for faster licensing, a dedicated crypto regulator and access to markets beyond Europe.
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Summary
- As the European Union’s MiCA rules tighten ahead of a July 1 deadline, crypto founders are increasingly exploring the United Arab Emirates as a friendlier regulatory base.
- Dubai-based lawyer Irina Heaver says her firm now receives more than 120 inquiries a week about setting up in the UAE, about half from Europe, as entrepreneurs balk at Europe’s bureaucracy and compliance costs.
- Advocates say the UAE’s crypto-specific regulators and faster licensing offer access to markets across Asia, North Africa and the global south, raising concerns about a potential European brain drain and loss of jobs and tax revenue.
