Richard Teng’s latest post on X added new momentum to an already busy week in Dubai.
Sharing a photo with UAE Minister Omar Al Olama, Binance’s CEO praised the country’s long-term approach to emerging technologies, calling the minister’s message “powerful” and saying the UAE’s “forward-thinking, fundamentals-first approach since 2015” is the reason the UAE has become a global hub.
A powerful message from His Excellency Omar Al-Olama.
The UAE’s forward-thinking, fundamentals-first approach since 2015 is why it is the global hub it is today.
It’s not just about embracing technology (blockchain, cryptocurrencies, AI), it’s also about building real resilience and value for the future. pic.twitter.com/SkMjLPuDFN
— Richard Teng (@_RichardTeng) December 3, 2025
UAE sticks to its digital vision
During his session at Binance Blockchain Week, Al-Olama made one point clear. That is, the UAE has not adjusted its direction.
“Our stance remains unchanged.” He reaffirmed that the country views blockchain and digital assets as part of its long-term economic plans.
He used a simple analogy to explain the UAE’s thinking. A child growing up in the desert imagines what he could make. A child who grows up in the forest longs for what already exists. For the UAE, the focus has always been on creating what’s next, he said.
Al-Olama also reminded attendees that the UAE established one of the world’s first cryptocurrency councils in 2015 – long before the rest of the world caught on to the sector.
Industry leaders point to UAE’s predictable strategy
In another 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.
“Cryptocurrency is just one piece of the puzzle in this country.” He explained that the UAE’s broader forward-looking plans will make it easier to build digital assets.
He likened the UAE’s long-term strategy to the way founders sell investors a clear vision and a path to get there.
Strengthen the framework with new rules
All this comes as the UAE implements a new central banking law that introduces digital assets and DeFi into the country’s traditional banking system.
All crypto businesses operating within and outside the UAE must now obtain a license from the CBUAE, with fines for unlicensed activities reaching up to Dh1 billion ($272 million).
The UAE is keen to build its foundation, which is a positive signal for the cryptocurrency industry.