• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

UAE: Virtual Asset Regulation and VARA's Role

user avatar

by Giorgi Kostiuk

a year ago

  1. Sean McHugh's Regulatory Experience
  2. VARA's Approach to Compliance
  3. The Future of the VASP Ecosystem


    4. The UAE has become a center for virtual assets regulation and VASP (Virtual Asset Service Providers). This journey began with the launch of Dubai’s Virtual Asset Regulatory Authority (VARA).

    Sean McHugh's Regulatory Experience

    Recently, VARA appointed Sean McHugh as Senior Director of Market Assurance, highlighting their focus on compliance standards. McHugh previously served as Global Chief Compliance Officer at Citadel Advisors and held various positions at Goldman Sachs and FINRA.

    VARA's Approach to Compliance

    VARA actively engages with VASPs to ensure adherence to the highest standards. McHugh noted that VARA emphasizes customer protection and the financial soundness of the ecosystem.

    The Future of the VASP Ecosystem

    VARA collaborates with DeFi and other VASPs to ensure regulatory compliance and licensing. McHugh highlighted the importance of technologies like AML and KYC for future regulation.

    The UAE continues to develop its virtual asset ecosystem, with a strong focus on compliance standards and advanced technologies.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Capriole Investments Founder Warns of Bitcoin Treasury Risks

chest

Charles Edwards warns about the risks of Bitcoin Digital Asset Treasury firms, comparing them to 1920s investment trusts and suggesting potential market crashes.

user avatarDavid Robinson

Bitcoin Hyper Addresses Scalability Issues

chest

Bitcoin Hyper, the first Bitcoin Layer 2 solution, aims to solve scalability challenges while enhancing transaction speed.

user avatarAndrew Smith

Ethereum Faces Resistance at $2,500 Amid Market Challenges

chest

Ethereum is facing challenges in reclaiming the $2,500 mark amid market headwinds and lackluster ETF inflows.

user avatarJacob Williams

Financial Services Commission Considers Ownership Cap for Crypto Exchanges

chest

The Financial Services Commission of South Korea is considering a proposal to limit ownership stakes for major shareholders in crypto exchanges, facing backlash from industry stakeholders.

user avatarZainab Kamara

South Korean Police Investigate Favoritism Allegations in Crypto Industry

chest

South Korean police are investigating favoritism allegations involving independent lawmaker Kim Byungkee, who allegedly sought employment for his son at Bithumb after failing to secure a position at Dunamu.

user avatarSon Min-ho

SUBBD Token Disrupts the Creator Economy with AI Integration

chest

SUBBD Token is emerging as a significant player in the creator economy, leveraging AI and decentralized payments to empower content creators and investors.

user avatarAyman Ben Youssef

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.