Two in three UAE residents are interested in crypto as Dubai’s virtual assets law deepens trust in trading: report – ArabianBusiness

Two in three UAE residents are interested in crypto as Dubai’s virtual assets law deepens trust in trading: report – ArabianBusiness

The UAE government’s constant efforts to promote digital finance and encourage crypto trading, including the recent Dubai Virtual Assets Regulation Law, has raised interest in digital assets, with two in three UAE residents interested in investing into cryptocurrencies within the next five years, according to the latest YouGov report.

Of these, young respondents between 25 to 34 years of age – which comprise 74 percent of the UAE respondents – are most likely to invest in cryptocurrencies, as compared to older adults, data from YouGov’s “The Future of Financial Services Report” report.

The report uses deep-dive custom research and data from YouGov’s profiles to explore the current global financial landscape, and identify the global adoption of, and trust in, new and emerging financial services across 18 international markets.

Data from the whitepaper suggests that interest to invest in cryptocurrency is high both in the long term as well as the short term.

Nearly one in five consumers in the UAE (21 percent) said that they intend to trade in cryptocurrencies in the next 12 months, the third-highest proportion across the surveyed markets, after Indonesia (25 percent)