Global multi-stratgey hedge fund firm Brevan Howard is carrying out a substantial portion of its cryptocurrency trading from the United Arab Emirates (UAE) thanks to the country's balanced regulatory framework, according to a report by Reuters.
The report cites Ryan Taylor, Brevan Howard's Group Head of Compliance, as praising the UAE's approach to regulating the sector at the AIM conference in Dubai on Monday.
"The regulators in the UAE are tough, but they want the industry to succeed. They create sensible regulations and are open to discussing with the industry to evolve those rules," Taylor said during a panel on hedge fund trends and strategies.
Brevan Howard's crypto trading activities make up around $2bn of its overall strategies, which total more than $30bn. While Taylor did not provide exact figures, he emphasised that the UAE plays a significant role in the firm's trading operations.
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