🚨 Dubai & UAE Unify Crypto Rules Under New Partnership 🇦🇪💱
The UAE is taking a big leap toward a single, streamlined crypto regulatory framework. The Securities and Commodities Authority (SCA) and Dubai Virtual Assets Regulatory Authority (VARA) have officially joined forces to harmonize rules for Virtual Asset Service Providers (VASPs).
🔑 Key Highlights:
Mutual License Recognition — A VASP licensed by SCA can be recognized by VARA and vice versa.
Not Automatic Passporting — Companies must still pass AML/CFT checks, operational readiness reviews, and compliance protocols.
Unified VASP Registration — Reduces duplicate approvals, speeds up market entry, and lowers operational risks.
Joint Oversight — Includes real-time data sharing, cross-jurisdiction AML coordination, and a Legislative Review Committee to refine laws in line with global best practices.
💬 Why it matters:
This partnership means crypto businesses can expand across the UAE more easily, while ensuring security, compliance, and investor trust. It strengthens the UAE’s reputation as an innovation-first, global crypto hub.
🌍 Broader coordination with Abu Dhabi Global Markets (ADGM) and other regulators is already underway — aiming for cross-border cooperation and a future-proof digital economy.
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