Prominent cryptocurrency YouTuber Ben Armstrong (also known as BitBoy Crypto) posted a cryptic message today related to Ripple's expansion plans in Dubai and Coinbase CEO Brian Armstrong’s visit to United Arab Emirates (UAE). Earlier today, Brian Armstrong praised the UAE for their positive stance on regulation of crypto and for the regulatory framework, business-friendly environment, and strong customer protection laws. Reacting to Brian's tweet, BitBoy commented on the coinciding of his visit and Ripple's announcement of a new office in the city. Both Ripple and Coinbase have been subject to the US Securities and Exchange Commission's enforcement action, with Coinbase being charged with potentially violating securities laws and Ripple being issued a Wells Notice.

Ripple made the decision to open an office in Dubai because 20% of its RippleNet customers are based in the Middle East and North Africa (MENA) region. BitBoy appears to be speculating whether this could lead to Coinbase following suit and opening a regional office in Dubai, yet the potential move has not been confirmed. Nevertheless, it appears that the UAE has become more welcoming of the cryptocurrency space and is actively contributing to blockchain innovation and regulation.

It's also worth noting that given the SEC's recent allegations towards Coinbase as well as Ripple, the United States may no longer be a place conducive to the growth of the cryptocurrency space. This could explain why Coinbase is enthused by the UAE's advances in the sector and why it is the first choice for Ripple's regional office opening. If a number of other players in the crypto market follow the steps of Coinbase and Ripple, the wave of mass exodus from the US could affect the country's image as it regards to cryptocurrency regulation in the long run.



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