The UAE has fast become one of the most innovative jurisdictions intent on offering regulatory clarity and guidance for licensed firms to offer virtual asset services. With the DFSA’s comprehensive regime for the DIFC, the independent regulator is committed to the long-term development of the crypto, payments and fintech ecosystem within Dubai, as well as providing guidance for companies to set up shop in the free zone. Dubai also has the Virtual Assets Regulatory Authority (VARA) which was established last year to protect investors, maintain high levels of risk assurance, and facilitate innovation.