Sheikh Maktoum Declares Dubai World Leader in Licensed Virtual Assets

Dubai has solidified its position as the global leader in licensed VIRTUAL assets, with year-to-date transactions surpassing AED 2.5 trillion. Sheikh Mohammed bin Rashid Al Maktoum heralded the milestone as a transformative addition to the emirate's economy, underscoring its rapid ascent in digital finance.

The Dubai Virtual Assets Regulatory Authority (VARA), established three years ago as the world's first dedicated virtual asset regulator, now oversees 40 licensed service providers and 600+ registered advisory firms. Sheikh Maktoum bin Mohammed attributed this success to Dubai's pioneering regulatory framework, which has created a secure hub for institutional and retail investors alike.

This development coincides with the approval of Dubai's Financial Sector Strategy on October 12, signaling further institutionalization of crypto markets. VARA's robust oversight continues to attract international capital, positioning the emirate as the jurisdictional gold standard for virtual asset innovation.