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ARTICLE · 16 JULY 2024

Dubai's Virtual Assets Regulatory Authority: 2024 Licence Application Process

Addleshaw Goddard LLP
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If you would like to offer virtual asset services in Dubai, you must obtain the relevant licences and/or approval from Dubai's Virtual Assets Regulatory Authority...

United Arab EmiratesTechnology
Anna Zeitlin
Anna Zeitlin
Eslam Ashry
Eslam Ashry

If you would like to offer virtual asset services (or conduct virtual asset activities) in Dubai, you must obtain the relevant licences and/or approval from Dubai's Virtual Assets Regulatory Authority ("VARA"). In this article we provide you with a high-level overview of the licencing process, associated costs, and practical tips for applicants.

April 2024: Virtual Assets Regulatory Authority ("VARA") Licencing Process for New Firms

As the world's first authority solely for the regulation of virtual assets ("VAs") and VA related activities, VARA's regulatory regime enables virtual asset service providers ("VASPs") to conduct business in a robust environment underpinned by clear rules, regulations, and guidelines. This marks a new wave of highly anticipated regulatory oversight in this industry.

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