TechFlow reported on October 15 that, according to Cointelegraph, during the Dubai Future Blockchain Summit, Luc Froehlich, Chief Business Officer of Ras Al Khaimah Digital Assets Oasis (RAK DAO), said in an interview with Cointelegraph that while regulatory clarity is needed in crypto, regulating through enforcement actions leads to brain drain.
Froehlich noted that RAK DAO not only provides licenses but also actively supports business growth, serving as a "meeting point" for various participants in the crypto space. He emphasized that unclear guidance from U.S. regulators has driven talent overseas, creating an opportunity for the UAE to attract global crypto talent.
Froehlich believes clear regulation is crucial for industry development, whereas enforcement-driven regulation could stifle innovation and set the industry back by years. RAK DAO is working to build an environment conducive to crypto innovation, aiming to attract global talent and advance the UAE's digital economy.
