As the MiCA deadline approaches, Dubai becomes a top destination for European crypto firms relocating.

CoinFeed June 30 news, according to CoinDesk, as the European Union's Markets in Crypto-Assets Regulation (MiCA) July 1 deadline approaches, unauthorized crypto companies will be prohibited from continuing to provide services to EU customers, and crypto firms are turning their attention more closely to the UAE. Dubai-based NeosLegal lawyer Irina Heaver said that as companies assess the cost, time, and uncertainty of obtaining authorization in the EU, inquiries from European founders have surged significantly. Her firm currently receives over 120 inquiries per week from businesses and founders interested in setting up in the UAE, about half of which come from Europe, including Spain, Italy, Germany, as well as Switzerland and the UK outside MiCA's scope.