The UAE is strongly focussed on innovative modernising technology although the UAE is still to make its move to regulate cryptocurrency and ICO markets. However I strongly believe that Dubai is perfectly positioned to be the crypto financial centre on par with Gibraltar, Singapore and Switzerland. Liberal and certain legislative regime and buy-in from the authorities will allow the inflow of innovative blockchain businesses and capital. 
Here is a general overview of ICO's from a UAE lawyer and cryptocurrency expert, Irina Heaver. She spoke very well on these topics at a recent conference in Dubai:
  https://fichtelegal.com/news/cryptocurrencies/