UAE Strengthens Virtual Asset Supervision with New Agreement 💼

The UAE’s Securities and Commodities Authority (SCA) and Dubai’s 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. 🌐

$VTHO

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! 👇

#cryptoregulation #UAE #VASPs #CryptoMarketTrend