Dubai’s Virtual Assets Regulatory Authority (VARA) has announced a critical milestone in its journey to bolster security against cross-border threats and prioritise consumer protection within its growing Virtual Assets sector.
As the Emirate fortifies its position in the global landscape, more than 1,000 legacy firms have filed applications to register under Dubai’s unique regulatory framework, underscoring the city’s commitment to fostering a transparent and resilient virtual asset environment.
Following the inception of the Authority by Law No. 4 of 2022 and the issuance of VARA regulations in February 2023, Dubai’s Virtual Assets sector, which includes specialist Virtual Asset Service Providers (VASPs) and traditional businesses involved in Virtual Asset activities, became a part of a regulated sector requiring all such legacy operators in the Emirate of Dubai…
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