Recently, the Fintech Summit was organised in Dubai, the capital of the United Arab Emirates, where Coinbase CEO Brain Armstrong gave the idea of making Coinbase a hub.

Legal Troubles in the US

     Lack of political will in the US and excessive administrative control have forced the crypto industry to leave the country. Coinbase is currently fighting a legal battle with the SEC, and Ripple Lab, a veteran of a long legal battle with the same SEC, has also expressed its preference for the UAE. It is natural to have an impact on Coinbase.

Growing Opportunities for the Digital Revolution in the UAE

     The UAE is a hotbed for business, with Bren Armstrong frequently discussing with top politicians there why the UAE is best suited for the digital sector. The UAE also has the world's first crypto-freezone established by law in the city of Ras Al Khaimah.

Thoughts

     The United States of America, called the Land of the Free, is not ready for the digital age. And of course, the head of the SEC, Gary Gensler, is to blame.