In the United Arab Emirates, things are moving at a clear and open pace. The government, especially in Dubai and Abu Dhabi, has embraced digital currencies as part of its strategy for digital transformation. Authorities like VARA (Virtual Assets Regulatory Authority) have been established to provide a regulated and attractive environment for companies and investors. Obtaining a business license for a crypto company in Dubai, for example, has become possible within weeks, with relatively flexible requirements that align with international anti-money laundering standards. Taxes in the UAE are almost nonexistent on digital assets, making it an ideal destination for individual investors and projects.
As for the United States, the situation is more complicated. Although it has the largest crypto market in terms of liquidity and number of investors, its regulatory environment is turbulent. Entities like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) sometimes differ in how they classify digital currencies, creating a state of uncertainty. Many projects have had to leave the U.S. market or delay their launch due to fears of lawsuits or regulatory restrictions. Additionally, taxes are imposed on crypto profits, and users are required to accurately disclose their transactions, which can be burdensome, especially for active traders.
In terms of supporting innovation, the UAE is making rapid strides, opening its doors to Web3 and DeFi companies and working on developing a central bank digital currency. In contrast, innovation in America still exists but is hampered by legal constraints, prompting some developers to seek more liberated environments.
✍️ If you are looking for a supportive, stable, and fast environment, the UAE provides an ideal climate, especially for starting or relocating a project. However, if you seek to benefit from market depth, liquidity, and large institutions, despite the restrictions, the United States may still be a strong option – but with much legal caution.