UAE Strengthens Virtual Asset Supervision with New Agreement đŒ
The UAEâs Securities and Commodities Authority (SCA) and Dubaiâs Virtual Assets Regulatory Authority (VARA) have struck a deal to mutually oversee virtual asset service providers (#VASPs). With this agreement, any VASP licensed in Dubai will automatically be registered with the SCA, making it easier to serve the entire UAE market. đ
However, businesses aiming to operate outside Dubai will still need approval from local regulators.
What impact will this have on the UAE's crypto future? Let us know your take! đ
#cryptoregulation #UAE #VASPs #CryptoMarketTrend