Today's Edition
SARA ALZAABI (ABU DHABI)
When it comes to managing fintech innovation and cryptocurrency, the UAE has set global benchmarks as it took decisive steps ahead of many other countries. Today, the nation stands as a role model in establishing regulatory frameworks for digital assets and emerging financial technologies, an expert has said.
Speaking to Aletihad during Bitcoin MENA, which concluded on Tuesday, Abdulla Al Dhaheri, CEO of The Blockchain Center Abu Dhabi, highlighted how the UAE capital has remained ahead of the curve and continues to lead the way in shaping the future of crypto and virtual asset regulation.
Al Dhaheri noted that the ADGM was among the early movers in launching a regulatory sandbox for digital assets and fintech innovation.
“Nobody fully understood the space at the time, but they took the leap forward,” he said, adding that federal regulators from around the world are now building on the UAE’s pioneering model.
“Other countries and global institutions are learning from the UAE how to reach the standard we have today,” he added.
Al Dhaheri expects bitcoin to become “a commodity that everybody is fighting to get” in the next five years. “There are only about 21 million bitcoin, and everybody wants a piece of it,” he said.
This year’s Bitcoin MENA comes amid the rapid growth of the cryptocurrency community, the expert said.
The forum “brought a big inflow of attention, with everyone asking about bitcoin itself and what comes next for it, geopolitically, institutionally, and for retail users as well”, said Al Dhaheri, who was among the speakers at the event.
“This event answered a lot of questions. Next year it’s going to be much, much better,” he said.
While awareness across the ecosystem is strong, he emphasised that the community wants to learn more and understand digital assets better.
Al Dhaheri stressed that collaboration remains central to future growth
“You cannot do it alone. Collaboration is essential. Bringing together governments, banks, large institutions and the private sector will create an ecosystem never seen before.”
