EmiratesNBD

Is the world still turning a blind eye on crypto currency! No, most countries are fighting to be the most prominent global hub for crypto.
The competition is heating up as countries realize that crypto regulation is the key to becoming a global player.
Untill now, Dubai takes the first place in becoming the most prominent in adopting cryptocurrency and blockchain innovation.
However, Singapore and Hong Kong are its closest rivals in Asia, while Switzerland and Portugal offer strong European alternatives.
Why Dubai Is Leading
Dubai offers a clear and supportive legal framework for crypto businesses.Its hosts major conferences like the recent "#Token2049 ", which attracts investors from around the world.Banks like "#EmiratesNBD " are adopting crypto-friendly services.Billions in capital flowing in, including from Gulf sovereign funds like MGX in Abu Dhabi.
Which are the countries that are competing with Dubai to Become Crypto Hubs
SingaporeIt has a strong fintech ecosystem.The Monetary Authority of Singapore follows strict but transparent crypto regulation.It encourages institutional adoption and innovation, especially in tokenized assets and DeFi.SwitzerlandIts concidered a pioneer in crypto regulations.Its the home to the Ethereum Foundation, and many blockchain startups.It is attractive due to its legal certainty, privacy laws, and banking infrastructure.Hong KongIt recently reopened to crypto firms with clear licensing.Has a goal of becoming Asia’s gateway for crypto funds and exchanges post-China ban.Its Launching a government-backed stablecoin project.El SalvadorIts the first country to adopt Bitcoin as legal tender.It focused on Bitcoin tourism and attracting Bitcoin entrepreneurs.It launched “#Bitcoincity ” project with tax incentives and geothermal-powered mining.PortugalIt offers a favorable tax regime for individual crypto investors.It has a growing tech and startup scene in Lisbon.BahamasIt launched a central bank digital currency (Sand Dollar).It Promotes itself as a compliant yet innovation-friendly offshore hub.
Where is the United States in all of this
The United States holds a paradoxical position in the crypto world: it is both a powerhouse of innovation and hampered by regulatory uncertainty.
Strengths of the U.S. Crypto Ecosystem
Home to major blockchain companies like #Coinbase , #Ripple , and Circle.Institutional investment in Bitcoin ETFs (approved in 2024) is booming.Cities like Miami, Austin, and New York have vibrant crypto and fintech communities.Leading universities contribute to blockchain research and development.
What are the challenges of the U.S?
The SEC and CFTC often clash on jurisdiction.Lack of clear federal legislation creates fear among businesses and investors.High-profile lawsuits (e.g., SEC vs. $XRP ) deter innovation.Fragmented rules across states make it hard for companies to scale nationally.
What are the promising Recent Developments regarding Crypto in the US
Spot Bitcoin ETFs Approved (2024): Opened floodgates for institutional investment.Growing bipartisan support for crypto-friendly regulation in Congress, especially ahead of the 2024 elections.States like Texas are welcoming crypto mining with cheap energy.
Will dubai keep its 1st place in the world of crypto currency? What do you think!

The bold move of the largest bank in Dubai
The largest bank in , Emirates NBD, has just shaken up the financial market by announcing it will offer cryptocurrency buying and selling services through the Liv X digital banking app. This is a strong move, reflecting the ambition to expand into the digital asset sector of a government-owned bank in Dubai.
According to Bloomberg, customers of can now easily trade crypto on the Liv X platform. This service is built on the infrastructure of Aquanow, a digital asset platform licensed by the Dubai Virtual Assets Regulatory Authority (VARA). Meanwhile, crypto custody services will be handled by Zodia Custody - a subsidiary of Standard Chartered, ensuring the security of digital assets for customers.