Richard Teng’s latest post on X added fresh momentum to an already busy week in Dubai.
Sharing photos with UAE Minister H.E. Omar Al Olama, the Binance CEO praised the country’s long-term approach to emerging tech, calling the minister’s message “powerful” and saying the UAE’s “forward-thinking, fundamentals-first approach since 2015” is why it has become a global hub.
During his session at Binance Blockchain Week, Al Olama made one point very clear: the UAE isn’t adjusting its path.
“Our stance has not and will not change,” he said, reaffirming that the country sees blockchain and digital assets as part of its long-term economic plan.
He used a simple analogy to explain the UAE’s mindset. A child raised in the desert imagines what can be built; a child raised in the forest admires what already exists. For the UAE, he said, the focus has always been on creating what’s next.
Al Olama also reminded attendees that the UAE formed one of the world’s first crypto councils back in 2015 – long before the rest of the world warmed up to the sector.
During a separate session, Aramex founder and Wamda Capital Executive Chairman Fadi Ghandour praised the UAE for creating a stable environment for innovation. He said the country’s approach gives entrepreneurs and investors something rare in emerging industries: clarity.
“In this country, crypto is just one piece of the puzzle,” he said, explaining that the UAE’s broader future-focused plan makes digital assets easier to build around.
He compared the UAE’s long-term strategy to the way founders pitch investors with a clear vision and a path to get there.
All of this arrives as the UAE enforces a new central bank law that brings digital assets and DeFi into the country’s traditional banking system.
Every crypto business operating in or from the UAE must now be licensed by the CBUAE, with fines reaching up to 1 billion dirhams ($272M) for unlicensed activity.
The UAE is busy building its foundation – a positive signal for the crypto industry.
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