The USpassed its landmark GENIUS Act, bringing President Trump one step closerto his pledge of making the US the “crypto capital of the world.” Unfortunately for Trump, no matter what his administration does, I’mafraid these efforts will be in vain. For me, the UAE will always be the realhomeland of crypto.The act,which Trump signed in July, is just more crypto-positive legislation fromthe States and a critical part of his administration’s mission to push the USup the DeFi podium.TRUMP: 🇺🇸 "The Golden Age of America is upon us, with today's signing."President Trumps signs the Genius Act signaling the first of Stablecoin legislation. pic.twitter.com/JD2TtV0p9b— CoinDesk (@CoinDesk) July 18, 2025Stablecoin Regulations in the USIt lays outa clear regulatory framework for stablecoins in the US, further establishingthem within the US's regulated capital market, and holding stablecoin issuers –like Circle and Tether, among others – to stronger anti-money launderingcompliance. In fact, the move has already bolstered consumer and companyconfidence in digital assets and is even inspiring Wall Street giants to launchtheir own stablecoins. With theworld's biggest banks getting on board with cryptocurrencies, I can see whyTrump might think his act gives the US an edge as the global crypto superpower.Unfortunately for him, this “giant” leap for crypto is just one of manysmall steps the UAE took years ago. In fact, theUAE has been actively encouraging crypto entrepreneurs to set up shop on itsshores for years. For a start,its forward-thinking government has established crystal-clear regulatoryframeworks for crypto, pioneering how governments should regulate cryptoglobally.Dubai's Virtual Asset Regulatory Authority (VARA) is exploring ways to ease the regulatory cost burden for smaller crypto firms.During Paris Blockchain Week, VARA CEO Matthew White discussed potential solutions, including a model where larger entities support smaller ones.— Satoshi Club (@esatoshiclub) April 11, 2024The Central Bank of the UAE (CBUAE) and Dubai's Virtual AssetsRegulatory Authority (VARA) – the world’s first virtual asset regulator –provide comprehensive oversight and checks and balances on digital assets,promoting transparency, consumer security, and fostering innovation in DeFi. In the UAE, crypto isn’t the Wild West – it’s a real, legitimate asset class.Dubai Sets the StandardThe simplefact is the UAE has been much quicker out of the blocks on regulation, and it’sreaping the rewards. VARA was established in 2022, and Abu Dhabi’s FSRA implemented its first crypto assets regulatory framework in2018 – that's a seven-year head start on the US's GENIUS Act. Does the currentUS government really expect to stage a crypto coup this late in the day? Moreover,the UAE imposes zero tax on crypto income or capital gains, making itincredibly hard to compete with – especially for the higher tax jurisdictionsof the EU and US. Here’s the bottom line: the country is allowing cryptoinvestors and entrepreneurs to thrive, not just survive. It actively encouragescrypto investment and trading.UAE Introduces Retroactive VAT Exemptions for Crypto Transactions https://t.co/aaNPfOJFyO— Bitcoin.com News (@BTCTN) October 7, 2024Goingfurther still, the UAE has also fully integrated digital assets into itsnational infrastructure. By 2026, we'll see the UAE’s central bank digitalcurrency, the Digital Dirham, supported by all financial institutionsregistered in the UAE. And on a more consumer note, in Dubai, you’re even ableto buy a home using bitcoin – supported by CBUAE and VARA. With these latestinnovations, the UAE is going beyond accepting crypto – and promotinginvestment activity in the space – to making it a pillar of their economiclandscape.A Destination for Crypto IssuersLooking atthe whole picture, it’s no wonder that the country is the clear first-choicedestination for crypto issuers and exchanges. And where the big crypto playersgo, innovations follow. OKX, the world’s second-largest crypto exchange, haslaunched regulated crypto derivatives for retail investors in the region, andbeyond that, there are a staggering 500-plus crypto startups operating theredomestically.Theseorganisations and their people have been lured to the UAE by its appetite,infrastructure, and proactive regulation – and who can blame them? In myopinion, the US’s GENIUS Act simply doesn't offer any competitive edge thatwill usurp its throne...At the endof the day, the UAE has embraced digital assets in a way that no other globalmarket has, making itself unchallengeable as the crypto motherland.Bitcoin Ownership RateOf course,I can't say I'm surprised: they have the highest Bitcoin ownership rateglobally at 27.2%, which is a staggering level of appetite. Considering all thefactors above, it's no wonder the crypto world has embraced the UAE in return. Ultimately,the UAE is lightyears ahead of other countries in its approach to DeFi in everyway. No regulatory shift in other markets is going to bridge the gap anddisplace it as the world leader, and that includes the US. The UAE will alwaysbe the kingpin, and its crypto crown isn’t up for grabs.This article was written by Fiorenzo Manganiello at www.financemagnates.com.