In late May, Dubai’s Virtual Asset Regulator Authority (VARA) hosted some of the world’s most successful digital assets and Web3 companies to discuss Dubai’s bold new regulator strategy in hand with the city’s recently launched ‘D33’ – a 10-year economic agenda aimed at doubling the size of the economy in the coming decade, to position Dubai as a top global financial services and talent hub along New York, London, Hong Kong, and Singapore, and to bolster its other key sectors, including logistics, trade, manufacturing, and tourism,
VARA makes Dubai one of a handful of global jurisdictions implementing a mature framework for crypto and virtual assets. Henson Orser, CEO of VARA, says “The VARA framework expects to see several hundred virtual asset exchanges and service providers in Dubai start to come into its licensing regime in 2023.”
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