Dubai’s virtual assets framework balances protection and friendliness, experts suggest

The introduction of the framework provides clarity and certainty to operators in the space, while offering a model for other global regulators to emulate.

Dubai’s Virtual Asset Regulatory Authority (VARA) last month issued the world’s first comprehensive framework for virtual assets (VA). Its rules serve as a benchmark for Hong Kong and other jurisdictions as they prepare to launch their own guidelines for virtual asset service provider (VASPs) in coming months.

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