RAK DAO chief commercial officer Luc Froehlich told Cointelegraph that while regulations need clarity, a regulation-by-enforcement approach drives talent away.
An executive from the Ras Al Khaimah Digital Assets Oasis (RAK DAO) in the United Arab Emirates spoke about approaches to crypto regulations and how the free economic zone aims to foster innovation in the digital assets space.
At the Future Blockchain Summit event in Dubai, Cointelegraph spoke with RAK DAO chief commercial officer Luc Froehlich on how the UAE free zone approaches crypto regulation. Froehlich said that beyond licensing, the crypto-focused free zone also tries to find ways to help businesses grow. He explained:
The executive highlighted that they are working toward having a “point of convergence” for different players in the crypto space.
