January 27, 2026
By Tsering Namgyal
Blockwind’s editor-in-chief Tsering Namgyal spoke with author and media entrepreneur James DiBiasio, managing partner of Hong Kong–based JDB Advisors, about his latest book on the UAE’s digital-asset industry, Arabian Crypto.
TN: You are now widely seen as a thought leader in the crypto industry. Let me begin with your latest book, Arabian Crypto. How did the idea first take shape—and why did you decide to write it?
JDB: Arabian Crypto is a collaboration between myself and Charles d’Haussy. I’m a journalist and media entrepreneur based in Hong Kong, where I’ve lived for nearly 30 years.
Back in 2017 or 2018, I worked closely with Charles when he was Asia head at Consensys in Hong Kong. He was interviewing people across the local crypto community, and together we created a project called Block Kong, profiling blockchain entrepreneurs. It was very well received locally.
Fast forward a few years: I’m still in Hong Kong, and Charles has moved to Dubai, where he is now head of the foundation at dYdX, a decentralised derivatives trading platform. I became increasingly curious about what was really happening in Dubai and Abu Dhabi. You hear a lot about the region, but I hadn’t been back to the Middle East in some time.
Charles was getting established there and was struck not only by the vibrancy of the digital-asset industry in the UAE, but also by its depth—and its complexity. So we decided to collaborate again. This time, instead of focusing on Hong Kong, we turned our attention to the UAE.
We travelled to Dubai and Abu Dhabi and interviewed regulators, founders, project leaders, and business people across the ecosystem. The aim was to understand what truly makes the place tick for people operating in crypto. We brought those insights together in book form and launched Arabian Crypto in November 2025.
TN: Who should read this book—and why?
JDB: First, anyone already working in digital assets—or considering entering the space—who doesn’t yet have a clear strategy for the UAE, or who may misunderstand what’s happening there. There are still many misconceptions, and the book helps address them.
Second, the profiles function almost like a network starter kit. We highlight real success stories—people from all over the world who have come to the UAE to build businesses in this industry. Through them, readers also gain a sense of the country’s broader story.
Beyond that, the book has value for policymakers, academics, and regulators, particularly in mid-sized or smaller economies. Large markets like the US, the EU, or Japan may not feel the same urgency. But for countries trying to develop innovation- or fintech-led growth, there are important lessons in how the UAE approaches regulation, how decisions are taken at the top, and how that mindset filters down across sectors.
TN: What stood out most—or surprised you—while writing the book?
JDB: The most useful part was unpacking how regulation actually works. The UAE is a federation of seven emirates. There’s a federal layer of governance, emirate-level authorities, and then different free zones, each with its own regulatory framework.
Dubai and Abu Dhabi are the main hubs, but there’s activity elsewhere too. Ras Al Khaimah, for instance, is positioning itself around DAOs and Web3. Abu Dhabi is more institutionally focused. Dubai is more oriented toward innovation and capital markets. Then there are places like the DIFC, which cater to more traditional financial players.
It’s a patchwork—almost a quilt—of opportunities. But to operate successfully, you need a clear understanding of the rules and a carefully thought-out market-entry strategy.
TN: What makes the UAE attractive compared with jurisdictions like Hong Kong or Singapore?
JDB: All three are competing to be digital-asset hubs, but structurally they’re very different.
Singapore is the simplest: regulation flows primarily through the Monetary Authority of Singapore. Hong Kong already has some fragmentation, with oversight divided among the HKMA, the SFC, and even customs authorities.
In the UAE, fragmentation is built into the system—but that’s also a strength. Dubai’s Virtual Asset Regulatory Authority (VARA) is a bespoke regulator created specifically for digital assets. That’s quite different from jurisdictions that try to fit crypto into existing financial frameworks.
VARA was built from the ground up for blockchain and digital assets. It still resembles a traditional regulator in many ways, but the mindset is different. It operates almost like a start-up regulator—more adaptive, more innovative.
TN: Where is crypto right now? Has its moment finally arrived?
JDB: The institutionalisation of digital assets became very clear in 2025, and that momentum has continued. Today, every major financial institution has some form of digital-asset strategy.
Much of this activity happens behind the scenes—in payments, capital markets, and wealth management. If implemented properly, on-chain systems can create efficiencies, free up capital, and broaden access to investment products that were previously out of reach.
Stablecoins, in particular, are enabling cross-border payments at scale. That matters less in highly developed markets, but in countries without robust financial infrastructure, it’s a genuine use case.
The key lesson from crypto’s earlier failures is compliance. The original vision of peer-to-peer digital cash was compelling, but non-compliance proved to be a fatal flaw. Some still resist regulation, but history suggests that monetary systems don’t scale that way.
Regulatory battles in the US and Europe will shape the landscape over the next few years—and that will create opportunities for places like the UAE, Hong Kong, and Singapore. China, meanwhile, is pursuing its own path: not crypto, but heavy investment in blockchain to support the internationalisation of the renminbi.
TN: What’s your view on the e-RMB?
JDB: In January, the People’s Bank of China introduced two significant changes. First, it allowed banks to offer yield on the e-RMB. Second, it launched a pilot in Shanghai that rewards carbon-light or carbon-friendly behaviour.
The yield component attracted the most attention. What’s notable is that China isn’t using the e-RMB to displace commercial banks. Instead, the banks issue it themselves, with yield, making it closer to a digital deposit than a pure CBDC.
By turning it into a deposit token, banks can issue it like commercial bank money and expand credit within the system. It’s a highly innovative approach, designed to drive wider domestic adoption and, eventually, use in trade, commodities, and large corporate transactions.
TN: Finally, how long did the book take to write—and how extensive was the research?
JDB: It’s about 240 pages. We began when I travelled to Dubai for interviews in April 2025, and we published roughly six months later.
There are around 26 or 27 profiles. Much of the sourcing came through Charles’s network—he’s on the ground—and we kept adding voices to ensure we captured as many perspectives as possible.
TN: Where can readers find the book?
JDB: It’s available on Amazon, though availability varies by country. Readers can access it through US, European, Japanese, and Australian Amazon stores, in both print and digital formats.
TN: And how has the response been so far?
JDB: It’s been very positive, thank you. We launched in October 2025, so it’s still early days.
TN: Thank you, and all the best with the book.
JDB: Thanks for having me.
About the author
Tsering Namgyal is the co-founder and editor-in-chief of Blockwind.news.
