European Crypto Founders Eye UAE Ahead of EU MiCA Deadline

European crypto founders are increasingly exploring the UAE as a potential base ahead of the European Union's Markets in Crypto-Assets (MiCA) compliance deadline, with firms that fail to secure authorization set to lose access to EU clients after July 1.

The shift is driving a surge in interest from Europe, according to a Dubai-based crypto lawyer, Irina Heaver, who said her firm is receiving more than 120 inquiries a week about establishing businesses in the UAE, with roughly half coming from European founders. She warned the new regulatory regime could lead to an outflow of talent, jobs, and tax revenue from Europe.

The growing interest comes as major industry players adjust to the new rules. Binance recently withdrew its MiCA application in Greece and said it will temporarily suspend some services for EU users while pursuing an alternative regulatory pathway.

Source: CoinDesk