Dubai — The Securities and Commodities Authority (SCA) and the Dubai Virtual Assets Regulatory Authority (VARA) have joined hands to create a unified approach to regulate virtual assets and their service providers across the UAE.
The new partnership aims to make the virtual asset market more transparent while protecting investors and encouraging innovation. It also supports the UAE’s goal to become a global leader in financial technology and the digital economy.
Both authorities will continue to handle their specific duties. The SCA will license and supervise virtual asset service providers across the UAE, while VARA will oversee activities related to digital assets within Dubai (excluding DIFC), including their issuance, trading, custody, and exchange.
Waleed Al Awadhi, CEO of the SCA, said the collaboration helps ensure responsible growth of the sector. Matthew White, CEO of VARA, noted that the partnership builds confidence among businesses and investors while supporting the country’s progress in digital finance.
With more than 40 licensed service providers already active in Dubai, the UAE is positioning itself as one of the world’s most advanced and well-regulated markets for virtual assets.
