Coindesk reported that an increasing number of cryptocurrency companies are relocating their bases to the United Arab Emirates (UAE), including Dubai, ahead of the full implementation of the European Union's cryptocurrency regulation law, MiCA. Dubai lawyer Irina Heaver explained, "Inquiries from European crypto companies regarding the cost, timing, and uncertainty of obtaining local licenses are surging. I receive 120 consultation inquiries per week. European companies prefer the UAE, which offers faster license acquisition and a clearer regulatory environment, instead of complex regulations and administrative procedures."
