In a major move to position itself as a global crypto hub, the United Arab Emirates has launched its first Bitcoin-friendly Free Zone in Ras Al Khaimah, called the RAK Digital Assets Oasis (RAK DAO). The zone is designed to attract Bitcoin-focused companies, blockchain startups, and fintech innovators by offering favorable regulations and tax benefits.
The RAK DAO will allow 100% foreign ownership, zero corporate tax for qualifying businesses, and streamlined licensing specifically tailored for crypto operations.
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Officials emphasize that this initiative is part of a broader UAE strategy to lead in blockchain adoption while ensuring a balanced regulatory environment.
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The UAE already hosts major crypto players and is expanding its global leadership with policies that combine innovation, compliance, and financial security.
Analysts predict that the RAK DAO could soon rival Dubai's Virtual Assets Regulatory Authority (VARA) in attracting major crypto investment.
