As the MiCA deadline approaches, Dubai becomes a popular destination for European crypto companies relocating.

robot
Abstract generation in progress
Golden Finance reported that on June 30, according to CoinDesk, as the July 1 deadline for the EU's Markets in Crypto-Assets Regulation (MiCA) approaches, unauthorized crypto companies will be prohibited from continuing to provide services to EU clients, and crypto enterprises are turning their attention more closely to the UAE. Irina Heaver, a lawyer at Dubai-based law firm NeosLegal, said that inquiries from European founders have surged significantly as companies assess the cost, time, and uncertainty of obtaining authorization in the EU. Her firm currently receives over 120 inquiries per week from companies and founders looking to establish operations in the UAE, with about half coming from Europe, including Spain, Italy, Germany, as well as Switzerland and the UK, which are outside the scope of MiCA.
Heaver pointed out that the outflow of talent and tax revenue will accompany the exodus of companies, and the UAE, with its regulatory framework specifically designed for digital assets and an efficient process that can complete company setup in just a few days, is attracting businesses to relocate, granting them access to a market of approximately 4 billion potential customers in Asia, North Africa, and the Global South. She stated that Europe may have missed this opportunity.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned