{"id":143295,"date":"2022-03-11T14:15:23","date_gmt":"2022-03-11T08:45:23","guid":{"rendered":"https:\/\/www.caravanalive.com\/?p=143295"},"modified":"2022-04-06T16:25:38","modified_gmt":"2022-04-06T10:55:38","slug":"crypto-asset-regulation-introduced-by-dubai-know-more-about-it-here","status":"publish","type":"post","link":"https:\/\/www.caravanalive.com\/?p=143295","title":{"rendered":"&#8220;Crypto Asset Regulation Introduced By Dubai&#8221;-Know More About It Here"},"content":{"rendered":"<div class=\"2a6a8c3593e6620bd92d71f585bdd19b\" data-index=\"4\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6453632170035383\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- NEW RESPONSIVE -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6453632170035383\"\r\n     data-ad-slot=\"2960496911\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n<p>Dubai has introduced crypto asset reg<span style=\"font-size: 1em;\">ulation, joining the ranks of Singapore, us, the UK, the Republic of El Salvador, and other countries that have enacted cryptocurrency laws. The Virtual Asset Regulation Law has been elapsed Dubai to control this new-age industry, which has been rapidly expanding.<\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2022\/03\/mohammed.jpg\" alt=\"Dubai Approves First Law to Regulate Digital Assets, Establishes Regulator to Oversee Crypto Sector \u2013 Regulation Bitcoin News\" \/><\/p>\n<p><span style=\"text-decoration: underline;\"><strong>Overview<\/strong><\/span>:<br \/>\nAn independent regulator has also been formed to control the cryptocurrency sector.<br \/>\nThe Dubai Virtual Assets administrative body (VARA), been a regulatory body, will have an overview of the event of the virtual asset business environment in terms of licensing, regulation, and governance.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/akm-img-a-in.tosshub.com\/businesstoday\/images\/story\/202203\/dubai1200-sixteen_nine.jpg?size=948:533\" alt=\"Dubai introduces new crypto law, establishes regulatory authority for oversight - BusinessToday\" \/><\/p>\n<p>The Dubai Virtual Asset Regulation Law aims to ascertain Dubai and also the United Arab Emirates as regional and global virtual asset industry destinations.<\/p>\n<p><span style=\"text-decoration: underline;\"><strong>What must be done under the new law?<\/strong><\/span><br \/>\nThe new law would force residents of Dubai to register with VARA before engaging within the crypto-related activity. Businesses that cope with virtual assets would also must register. Cryptocurrency exchanges, businesses that facilitate cryptocurrency transfers, etc are samples of these businesses.<\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2022\/03\/dubai.jpg\" alt=\"Dubai Approves First Law to Regulate Digital Assets, Establishes Regulator to Oversee Crypto Sector \u2013 Regulation Bitcoin News\" \/><\/p>\n<p>along with an exception for the government-owned DIFC financial-free zone, the new rule will apply throughout Dubai. The DIFC\u2019s regulator, the Dubai Financial Services Authority (DFSA), is developing its own virtual asset regulations.<\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/techstory.in\/wp-content\/uploads\/2022\/02\/106837526-1612866638564-gettyimages-1294702554-yn_cryptoimages_016.jpeg\" alt=\"Dubai is regulating crypto assets and plans to become a key player - TechStory\" \/><\/p>\n<p><span style=\"text-decoration: underline;\"><strong>About Virtual Assets administrative unit<\/strong><\/span><br \/>\nExcluding the Dubai International Financial Centre (DIFC), VARA is accountable for regulating and licensing the arena across the country territories and also the mainland.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.thecoinrepublic.com\/wp-content\/uploads\/2022\/03\/Dubai-establishes-watchdog-to-regulate-1140x428.jpg\" alt=\"Dubai establishes watchdog to regulate virtual assets under first crypto law - The Coin Republic: Cryptocurrency , Bitcoin, Ethereum &amp; Blockchain News\" \/><\/p>\n<p>The authority is going to be accountable for creating and organizing the procedures and rules which will govern VA activities, like clearing, management, and settlement services, further as specifying and classifying the categories of virtual assets. unitedly with the UAE financial organization and therefore the Securities and Commodities Authority, VARA also will offer a full range of services.<\/p>\n<p><span style=\"text-decoration: underline;\"><strong>About Virtual Assets<\/strong><\/span><br \/>\nAny digitized token useful which will be traded, transferred, or used for payment can be considered a virtual asset. The digital representation of fiat currency isn&#8217;t included under virtual assets. Non-fungible tokens (NFTs) and cryptocurrencies are the foremost popular digital assets.<\/p>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Dubai has introduced crypto asset regulation, joining the ranks of Singapore, us, the UK, the Republic of El Salvador, and other countries that have enacted cryptocurrency laws. The Virtual Asset Regulation Law has been elapsed Dubai to control this new-age industry, which has been rapidly expanding. Overview: An independent regulator has also been formed to [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":143298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[{"category_id":36,"category_link":"https:\/\/www.caravanalive.com\/?cat=36","category_name":"Article"},{"category_id":1265,"category_link":"https:\/\/www.caravanalive.com\/?cat=1265","category_name":"International"},{"category_id":511,"category_link":"https:\/\/www.caravanalive.com\/?cat=511","category_name":"Latest News"},{"category_id":137,"category_link":"https:\/\/www.caravanalive.com\/?cat=137","category_name":"News"}],"tags":[{"tag_id":3819,"tag_link":"https:\/\/www.caravanalive.com\/?tag=crypto-currency","tag_name":"crypto currency"},{"tag_id":3818,"tag_link":"https:\/\/www.caravanalive.com\/?tag=difc","tag_name":"DIFC"},{"tag_id":2051,"tag_link":"https:\/\/www.caravanalive.com\/?tag=dubai","tag_name":"DUBAI"},{"tag_id":3817,"tag_link":"https:\/\/www.caravanalive.com\/?tag=vara","tag_name":"VARA"}],"class_list":["post-143295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-article","category-international","category-latest-news","category-news","tag-crypto-currency","tag-difc","tag-dubai","tag-vara"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>&quot;Crypto Asset Regulation Introduced By Dubai&quot;-Know More About It Here - Alive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.caravanalive.com\/?p=143295\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&quot;Crypto Asset Regulation Introduced By Dubai&quot;-Know More About It Here - Alive\" \/>\n<meta property=\"og:description\" content=\"Dubai has introduced crypto asset regulation, joining the ranks of Singapore, us, the UK, the Republic of El Salvador, and other countries that have enacted cryptocurrency laws. 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