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International Business Times UK
International Business Times UK
Dani Oh

MiCA Creates Crypto Winners and Losers as Dubai Gains From Europe's Regulatory Shift

MiCA European Union Crypto Dubai Europe OKX Binance Tether
The European Union is drawing up a sanctions plan that could target major American technology companies including Google and Microsoft, as well as US banks and financial institutions, in response to Donald Trump's renewed claims over Greenland. (Credit: Entbert/WikiMedia Commons)

MiCA is sharpening a divide in Europe's crypto market: companies that secured regulatory approval are gaining access to a newly unified market, while firms still seeking authorisation face tougher decisions.

One sign of the pressure is coming from Dubai. Irina Heaver, a lawyer at Dubai-based NeosLegal, said in an interview with Coindesk that her firm is receiving more than 120 enquiries a week from founders interested in establishing operations in the UAE, with around half coming from Europe, including the UK.

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