The UAE has approved ICO tokens as securities. In the middle of 2019 a complete framework will be ready. 
In addition to readiness to having complete regulatory framework, the Security and Commodities Authority announced initiative to work with the Abu Dhabi Securities Exchange and Dubai Financial Market to develop local trading platforms for crypto assets. 

The officials state already signing agreements with law firms and see perspectives of finalizing legal requirements by the end of the first half of 2019. As soon as this process is complete there will be implementation of infrastructure with technology on the exchanges. 

Dubai has become a point of interest for a number of blockchain and trading companies. In December Blockchain Congress attended by invitation-only took place in Dubai. Promoting and sponsoring the event, Huobi with its dedicated Huobi MENA is one of the samples of streamline development of Blockchain in the UAE. The event is not only to represent the interest, but bringing together developers and important players to enhance the growth. Dubai is favouring its financial modernization and attracts business interest of the entire globe. 

Now Dubai can be a safe home for operating blockchain and ICO companies. SCA Chief Obaid Al Zaabi stated: 
 
“Our market is open. [ICO] registration and licensing is available for all kinds of companies, from across the world”.