UAE Crypto regulation don unite by SCA-VARA partnership
Di crypto regulation for UAE don unify under one 2024 pact wey Securities and Commodities Authority (SCA) and Dubai Virtual Assets Regulatory Authority (VARA) gangan them. Under dis framework, virtual asset service providers (VASPs) wey dem license for any of di two authorities fit now seek mutual license recognition through one single registration system. Di agreement require joint AML/CFT assessments, operational readiness checks, real-time data sharing, plus cross-jurisdictional supervision. One legislative review committee go align rules with global best practices, while ongoing discussion with ADGM dey ensure say cross-border interoperability dey. Traders go benefit from less compliance duplication, faster market entry, and clearer regulatory guidance for UAE digital economy.
Bullish
Di partnership wey dey between SCA and VARA dey give regulatory clarity and dey make compliance easy. For short term, traders dey see say operational risks don reduce and market entry for UAE faster, wey fit make trading volumes increase. For long term, unified rules, mutual license recognition plus better data sharing dey build investors confidence and boost the digital asset ecosystem. Dis regulatory convergence dey position UAE as competitive hub, to support sustainable growth and fit drive broader market optimism.