UAE official: Bitcoin is redefining global finance at "unprecedented speed"

Source: CryptoNewsNet Original Title: UAE official: Bitcoin is redefining global finance at “unprecedented speed” Original Link:

Bitcoin as Future Finance Pillar

Mohammed Al Shamsi, a senior UAE National Security official, declared that “Bitcoin has become the key pillar in the future of financing” at the Bitcoin MENA 2025 conference held in Abu Dhabi.

Al Shamsi described current financial innovations as historically significant, stating that the world economy is transforming at unprecedented speed. He emphasized that Bitcoin is “no longer just a digital asset,” but has evolved into a fundamental component of future financial systems.

The conference, held from December 8-9 at the ADNEC Centre, attracted over 10,000 attendees and featured approximately 300 speakers from around the world, along with 90+ exhibitors. The event included prominent speakers and regional leaders discussing various aspects of Bitcoin, from technical development to institutional adoption.

UAE’s Strong Position in Crypto Markets

The UAE has established itself as the third-largest crypto economy in the Middle East and North Africa region. The cryptocurrency market revenue in the UAE is projected to reach $395.9 million in 2025.

The country has developed a diversified crypto ecosystem with significant activity across both centralized and decentralized platforms. Between July 2023 and June 2024, the UAE received over $34 billion in cryptocurrency transactions, representing a 42% year-over-year growth.

Dubai’s virtual-asset market reached approximately $680 billion in 2025, contributing 0.5% to Dubai’s GDP. The broader crypto industry contributes approximately $27.25 billion to Dubai’s economy, representing 4.3% of the UAE’s total GDP.

Bitcoin adoption rates are particularly strong in the UAE, with more than 30% of residents—approximately three million people—having invested in cryptocurrencies. The country recorded over 500,000 daily active crypto traders.

Regulatory Framework and Market Outlook

The UAE has implemented favorable regulatory conditions, including zero value-added tax on Bitcoin transactions, no personal income tax, and no capital gains tax. Dubai’s Virtual Assets Regulatory Authority and Abu Dhabi’s Financial Services Regulatory Authority provide oversight of crypto operations.

Regionally, the Middle East crypto market was valued at approximately $110.3 billion in 2024, with projections to reach $234.3 billion by 2033, representing an expected compound annual growth rate of 8.74%.