It is undeniable that the cryptocurrency industry has come a long way in a short amount of time, originating with the creation of Bitcoin as popular skepticism about the role of banks and central institutions in the financial system grew, to now having a market cap of more than $2 trillion. In providing an alternative payment system that operates without the need for central control and intermediaries, cryptocurrencies have done an excellent job. However, due to concerns about their decentralized nature and lack of clear regulation, their use has majorly been widely adopted in only developed countries, especially in widespread English-speaking countries like the United States, the United Kingdom (UK), and Canada. Expansion of the Crypto Industry in the Middle East Owing to its irresistible nature, cryptocurrency adoption is now rapidly spreading across the African and Asian markets, with special emphasis on the Middle Eastern market. And although it is fairly easy to notice how crypto adoption is growing rapidly in the Western world, governments in the Middle East that are taking steps to encourage cryptocurrency adoption and establish regulatory frameworks are sometimes ignored. In the wake of bans and restrictions being implemented in Asian countries such as China, and Western countries delaying the implementation of regulations, countries in the Middle East such as the United Arab Emirates and Saudi Arabia are attempting to...
