According to Chase Ergen, a board member of DeFi Technologies, a listed digital asset investment company, the cryptocurrency industry is expected to become the second largest industry in the UAE within the next five years thanks to the UAE's regulatory policies and attractive business environment.

“The UAE has a great reputation for leadership, legislation, and community building,” Ergen told Cointelegraph. “They sell oil, that’s their primary business. I think over the next five years, their second-largest business will be the blockchain industry. It will start to be a double-digit growth segment of the economy.” The UAE boasts a clear regulatory framework for cryptocurrencies, a community of key crypto industry executives, a debt-free economy that allows the government to reinvest surpluses in technology, a low crime rate, favorable tax policies, and forward-thinking leadership.