The law came on the same day as a new US framework for cryptocurrencies, signalling that both countries are set to become leaders in adoption and regulation of digital assets, experts said
VARA
cryptocurrencies
Dubai Ruler issues Dubai Virtual Asset Regulation Law to protect investors, govern the industry, and “design the future of virtual assets globally”
The Dubai Virtual Asset Regulatory Authority (VARA) will regulate, supervise, and control virtual asset services. The authority set the rules and controls that govern the conduct of virtual assets activities, including management, clearing, and settlement services, as well as classifying specifying types of virtual assets