In 2023, Dubai’s Virtual Assets Regulatory Authority (VARA) responded to blockchain shifts, positioning Dubai as a regulated hub. VARA, aligning with international standards, issued a record number of licenses in its first year, blending Traditional Finance with Decentralized Finance. In 2024, VARA launched pioneering regulations, collaborating with the Central Bank and Emirates Securities Authority. CEO Matthew White anticipates a focus on infrastructure, ecosystem expansion, and innovation in 2024, solidifying Dubai’s global leadership in the virtual assets industry. VARA’s commitment to transparency extends to social media, fostering a community for updates and dialogue.
