Author: Artem Andryanov

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In 2022 Dubai made a rapid entrance into the Gulf crypto market but until recently it’s been Bahrain that was topping the news about crypto in the Gulf. Dubai is a newcomer, while Bahrain is the real leader of the market.

Bahrain, a tiny Gulf nation located off the eastern coast of Saudi Arabia, was the first to embrace crypto in the MENA region.

What makes it so unique and successful? The answer is quite simple – Bahrain was the first to introduce a regulatory framework that established rules for crypto – a new game that nobody actually knows how to play yet.

Since the 2010s, the Gulf states have been actively carving a path toward economic diversification, and new technologies are at the heart of their strategies. Various national visions were designed to attract new business and create space for new industries.

We want to be at the forefront of the Fourth Industrial Revolution. We missed the first and second. When the third revolution took place and we saw the emergence of Silicon Valley, we were too busy making money from oil,

says David Parker, co-chief investment officer at the Bahrain Economic Development Board (BEDB).