DFSA and VARA Sign MoU to Strengthen Virtual Asset Regulation in Dubai

The DFSA and VARA have signed a Memorandum of Understanding (MoU) to enhance collaboration in regulating virtual assets across Dubai.

This agreement is notable as the DIFC remains the only jurisdiction in Dubai not currently under VARA's regulatory scope.

By signing the MoU, both agencies signal their commitment to a unified regulatory environment for virtual assets.

Key areas of cooperation include licensing, supervision, enforcement, and information exchange between the two regulators.

The MoU also emphasizes joint efforts to combat financial crimes such as money laundering and terrorism financing.