SCA VARA virtual asset regulation UAE has taken a major step forward with the strategic partnership.
1
SCA VARA virtual asset regulation UAE has taken a major step forward with the strategic partnership.
SCA VARA virtual asset regulation UAE has taken a major step forward with the strategic partnership announced between the Securities and Commodities Authority (SCA) and Dubai’s Virtual Assets Regulatory Authority (VARA). This collaboration creates a clear and unified framework to regulate Virtual Assets (VAs) and their service providers (VASPs) nationwide, promoting responsible innovation, investor protection, and market integrity.
Building on Cabinet Resolution No. (111) of 2022 and the Cooperation Agreement signed in September 2024, both authorities will maintain distinct but complementary roles: The SCA oversees licensing and supervision across the UAE, while VARA regulates issuance, exchange, custody, and trading within Dubai (excluding DIFC). This alignment reduces duplication and offers clarity to issuers, brokers, and investors.
Waleed Al Awadhi, CEO of SCA, emphasized that this joint effort enables sustainable growth within a robust regulatory structure. VARA CEO Matthew White highlighted the partnership’s role in converging traditional finance and virtual assets, positioning the UAE as a global hub for responsible digital innovation.
With over 40 licensed VASPs already in Dubai, the collaboration strengthens the UAE’s global leadership in virtual asset governance, ensuring transparency, accountability, and compliance with international standards.
Keep in touch with our news & offers
