Shifting sands: The UAE is solidifying its global crypto takeover

Khaleej Times

4 days ago

The Middle East is not taking a back seat in the digital revolution. Once it banked on its natural resources like oil, today, it leads in the digital asset sphere. Europe and the USA are the spark that ignited the crypto adoption race, but it is Middle Eastern countries like the UAE that now hold the torch.
The Western complexity
The Western hemisphere has had crypto regulations for some time now, and authorities are updating digital asset regulations in 2025. However, unlike the UAE (with its well-thought-out planning), jurisdictions like the EU are running headlong into a quagmire. Markets in crypto-assets (MiCA), payment services directive (PSD2), transfer of fund regulations (TFR), and other rules meant to smooth out wrinkles are more of a hindrance.
Carrying different requirements, sometimes these overlap, confusing an already complex environment. And member countries having their own internal regulations simply add more layers of uncertainty.
In an industry where less is more, the UAE's course of action not only makes sense, but it has also helped the tiny nation lead digital assets and crypto innovation.
Crypto industry gravitating towards the East
Rather than take a stumble, learn, and improve approach, the UAE laid the foundations for a transparent, efficient, and effective framework back in 2017. Studying what other jurisdictions lacked, the Virtual Assets Regulatory Authority (VARA) was established in 2022.
VARA is the first ever independent regulatory authority for crypto assets, with the most concise, user-friendly, and clear vision. Unlike the European approach, VARA offers legal clarity, strategically encourages a pro-blockchain environment, and integrates crypto into the mainstream financial system.
While other major players like the EU only concentrate on regulating the industry (with complex and confusing rules), industry players are looking for better pastures. For many, the answer is the digital asset-friendly Emirates.
First mover advantage
Aiming to facilitate institutional investors and HNWI looking for crypto exposure, Dubai-based World Golden Gate (WGG) takes full advantage of VARA clarity. Understanding the benefits of a regulatory compliant platform early on, Dmytro Kostin, the founder of WGG, kicked off the licensing process before the mainstream industry followed.
Under his vision, WGG is awaiting Stage 2 license clearance. While the final approval is pending, advancing into the second stage reflects WGG's compliance with VARA through a robust internal framework and understanding of how this can pivot the firm in the right direction.
WGG acts as a principal trader, executing 80% of its clients' orders against itself. No counterparty risk, no public order books. Other features include on/off-ramping for fiat, enabling hassle-free purchase and sale of crypto.
With non-custodial services and 1:1 backing, World Golden Gate aims to be a highly secure and transparent crypto brokerage service. Built with VARA's regulatory framework in mind, its operational model adds an element of trust that many others lack.
The Emirates sees virtual assets not just as an industry that needs oversight, but as a technology that is being integrated at all levels. When a country starts using an innovation itself, it not only becomes a friendly place for entrepreneurs, startups, and the industry, but also a partner in the progress.
Once behind Europe and the USA, the UAE now leads the digital asset sphere.
In the midst of all this, World Golden Gate is prepping up to take the full regulatory-friendly environment of the UAE.