Ranking the indicators for all the countries, Dubai tops the list with a general score of 79 points of 100 possible. It has been acknowledged for having an outstanding legal system for the cryptocurrency company to operate in the emirate. However, it is the establishment of the Virtual Asset Regulatory Authority (VARA) & the Dubai Financial Services Authority (DFSA) offering legal frameworks in the form of structures for the cryptocurrency industry.
Besides legal certainty, Dubai holds various tax incentives for cryptocurrency companies. Cryptocurrencies do not attract capital gains tax, and corporate taxes are mildly progressive, pegged at a reasonable 9% for any income over AED 375,000.
These policies create a favorable business environment and help crypto companies worldwide find effective opportunities to expand their operations at comparatively low costs. Dubai’s growth in blockchain and cryptocurrency industries is bolstered by the DMCC Crypto Centre, which offers purpose-built infrastructure.