Unified Framework Agreed For Virtual Asset Regulation In UAE

The UAE's Securities and Commodities Authority (SCA) and the Dubai Virtual Assets Regulatory Authority (VARA) signed a strategic partnership in August to align regulatory frameworks for virtual assets across the country.

The agreement, which aims to eliminate duplication and strengthen supervision, sets out a unified mechanism for registering virtual asset service providers (VASPs), enabling mutual recognition of licences and facilitating the exchange of information between the two regulators. It also introduces joint oversight and operational coordination.

The move comes after months of coordination between the two authorities and reflects broader efforts by the UAE to build a streamlined, globally credible regulatory environment for digital assets.