#Virtual Assets
The new CBUAE guidance related to the virtual assets sector is aimed at strengthening the supervisory and regulatory frameworks of the country’s central bank and other relevant bodies in line with global best practices
The MoU strengthens VARA’s aim to achieve full transparency and market conduct adherence across virtual asset service providers licenced to operate in Dubai
As the world’s first regulator to make its debut in the metaverse, VARA aims to ensure that the regulator is accessible to its industry in their environment
Real estate sales in the metaverse reached $500m in 2021 and it’s projected to grow at a CAGR of 31 per cent from 2022 to 2028
Upon completion of the application, Binance will be able to offer services regarding virtual asset offerings to customers across the MENA region
ADGM’s FSRA has published a paper proposing wide-ranging amendments covering virtual assets, securities, derivatives, commodities and benchmarks
The company will be allowed to offer limited exchange products and services to pre-qualified investors and professional financial service providers
The provisions of the Dubai Virtual Asset Regulation Law will be applicable across the emirate, except the Dubai International Financial Centre