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The UAE, Japan, and Singapore are leading in terms of cryptocurrency regulation, according to a report from the Belgium-based Brussels School of Governance.

UAE’s Crypto Industry Could Grow $26B from Last Year

Guy Burton, who is a professor at the Brussels School of Governance, wrote a report titled “Getting it Right on Crypto Regulation” in which he pointed out that Asian countries such as Japan and Singapore and the Gulf region like the Middle East are leading the frontiers towards crypto regulation.

“As crypto assets are moving into the mainstream, over the past year their value has exploded and with a number of ambitious initiatives taking place across Asia and the Gulf, digital assets are becoming a financial force to be reckoned with,” Burton wrote in the report.

Burton particularly remains bullish on the United Arab Emirates (UAE) with its dedicated regulatory body for digital assets. He also noted that the region has issued licenses to over 30 global crypto exchanges for them to set up shops in the regions. The region, overall, he believes should grow by more than $26 billion from last year.

“With measures already in place, the Emirati authorities are able to see what will work and what does not and give it the chance to respond in a timely and effective fashion. In sum then, it is very likely that plenty of eyes will be on such trendsetters as Singapore and the UAE in the next few years as the digital assets market solidifies its role in the future of finance,” he added.

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