Tag: Dubai

Decentralized physical infrastructure (DePIN) protocol peaq has signed a memorandum of understanding with Dubai’s Virtual Assets Regulatory Authority (VARA) to develop a regulatory framework for onchain robotics and tokenized machines. According to a Thursday press release, the memorandum centers on layer-1 blockchain peaq’s Machine Economy Free Zone, with additional areas of collaboration including guidance for projects…

Opinion by: Joshua Chu, co-chair of the Hong Kong Web3 Association It is no secret that Dubai has been aggressively challenging its Asian counterparts for the crown of becoming the world’s next crypto capital. Beneath the gleaming air-conditioned skyscrapers, where supermodels are everywhere at crypto events and pilot blockchain programs, a complex grand strategy is…

Dubai’s crypto regulator fined 19 companies for operating without licenses, signaling a continued push to strengthen oversight and protect investors. On Tuesday, Dubai’s Virtual Assets Regulatory Authority (VARA) announced that it had issued financial penalties and cease-and-desist orders against 19 companies found to be operating outside its regulatory perimeter. VARA said the sanctions were part of its…

The United Arab Emirates (UAE) took a significant step toward harmonizing its approach to crypto regulation. The country’s Securities and Commodities Authority (SCA) and the Dubai Virtual Assets Regulatory Authority (VARA) announced a strategic partnership to unify the UAE’s approach to crypto regulations. Last September, the regulators expressed their intention to work together toward unifying crypto frameworks…

Laser Digital, the digital asset subsidiary of Japan’s investment bank Nomura, has become the first company licensed under Dubai’s Virtual Asset Regulatory Authority (VARA) pilot framework to offer regulated over-the-counter (OTC) crypto options. The “limited license” will allow Laser Digital to offer OTC crypto options to institutional clients under strict oversight, the company said Wednesday. OTC desks…

Key takeaways Dubai now has clear laws for buying property with crypto via VARA and the UAE Central Bank. Major developers like Damac and Emaar accept BTC, ETH and stablecoins for property sales. Crypto payments are faster, cheaper and easier for global buyers. Stablecoins and tokenized real estate are driving Dubai’s next property boom. It’s…