When I asked Praneet Sinha why he left Britain, he said it came down to operational and financial efficiency. He co-founded his crypto startup, Moongate, in London in 2022. The business planned to collect its fees in crypto, which would mean converting that revenue into fiat to pay salaries and running costs.

“RAK DAO (Ras Al Khaimah Digital Assets Oasis) made more sense for us from a regulatory and business standpoint,” he told me. “It offered a more crypto-friendly environment and tax advantages, particularly around converting crypto revenue into fiat to fund our operating expenses.”

That is why he moved the business from the UK to the UAE, setting up in RAK DAO, a free zone for digital-asset companies in Ras Al Khaimah. He is…