DeFi Technologies board member: Cryptocurrency will become the second largest industry in the UAE within five years

According to Chase Ergen, a board member of listed digital asset investment firm DeFi Technologies, the cryptocurrency industry is expected to become the second largest industry in the UAE within the next five years, thanks to the UAE's regulatory policies and attractive business environment.
"The UAE has a great reputation for leadership, legislation and community building," Mr. Ergen said in an interview with Cointelegraph. He also predicted: "They sell oil, which is their main business. I think in the next five years, their second largest business will be the blockchain industry. This will start to be a part of the economy that is growing in double digits." The UAE has a clear regulatory framework for cryptocurrencies, a community of key executives in the cryptocurrency industry, a debt-free economy that allows the government to invest its surplus in technology, low crime rates, favorable tax policies and forward-looking leadership.