MiCA is forcing European projects to go overseas, and Dubai is absorbing them quite aggressively, with over 120 inquiries per week illustrating the issue.

Coin World News: As the EU's Markets in Crypto-Assets Regulation (MiCA) approaches its July 1 deadline, an increasing number of crypto companies are turning their attention to the UAE. Dubai-based lawyer Irina Heaver says there has been a surge in inquiries from founders in Europe, with many companies weighing the costs, time, and uncertainty of obtaining authorization in the EU. Heaver notes that her firm receives over 120 inquiries weekly from founders looking to set up companies in the UAE, with about half coming from countries like Spain, Italy, Germany, Switzerland, and the UK. The first set of MiCA rules took effect 18 months ago, and stablecoin regulations were implemented a year ago. Heaver believes that many founders find the UAE's regulatory framework specifically designed for digital assets, allowing them to establish companies and bring products to market faster.