At the Future Blockchain Summit in Dubai, RAK DAO's chief commercial officer, Luc Froehlich, discussed the UAE's approach to crypto regulation and the free zone's focus on supporting innovation in the digital assets sector.

Approaches to Crypto Regulation

RAK DAO operates within a free economic zone, aiming not just to issue licenses but to facilitate business growth in the crypto space. Luc Froehlich emphasized the importance of partnering with companies to help them expand and enhance cooperation among market players. "The objective is not just to sell licenses but to partner with them to help grow their business," he noted.

Attracting Talent to Develop the Local Crypto Space

Froehlich highlighted regulatory constraints in China and Europe, which create challenges for crypto projects and contribute to the talent exodus from the US. This presents an opportunity for the UAE to attract global experts. "There is a strong need for regulatory clarity as regulation by enforcement doesn't work," he added.

Increased Interest in Tokenization and Gaming

He also noted a growing interest in real-world asset tokenization and gaming projects in the region. The opening of a gaming resort in Ras Al-Khaimah in 2027 is expected to attract blockchain projects.

RAK DAO continues its mission to develop the crypto industry by attracting global talent and creating conditions for successful blockchain projects in the UAE.