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SCA and VARA Formalize Partnership to Unify UAE Crypto Rules

Laser Digital launches regulated crypto options desk in Dubai


The United Arab Emirates (UAE) has taken a significant step toward harmonizing its approach to crypto regulation. The country’s Securities and Commodities Authority (SCA) and the Dubai Virtual Assets Regulatory Authority (VARA) have announced a strategic partnership to unify the UAE’s approach to crypto regulations.

In September, both regulators expressed their intention to work together toward unifying crypto frameworks in the country. One feature of the partnership is that it will allow Dubai-based licenses to service the entire UAE, according to a Wednesday announcement shared with Cointelegraph.

A VARA spokesperson told Cointelegraph that the latest development formalizes the agreement between the two regulators and “operationalises that intent” with concrete mechanisms. 

“In essence, the 2024 MOU was a starting point. The current partnership is its formal and functional implementation,” VARA said.