The Dubai Virtual Asset Regulatory Authority announced its entry into Metaverse, and the establishment of its headquarters in the virtual world, “The Sandbox,” to be the first regulatory body in the world to enter the world of Metaverse.
The Dubai Virtual Asset Regulatory Authority seeks to consolidate its presence in the virtual world and enable the components of this sector to access its services in its digital technical environment, in addition to facilitating cooperation between global virtual asset service providers, thought leaders in the virtual assets sector, and international regulatory authorities.
The Dubai Virtual Asset Regulatory Authority was established to provide a secure and advanced framework to enable the virtual assets sector to expand, and at the same time, to ensure market and investor protection. This important step reflects the confidence of the Dubai government that virtual assets are an integral part of the future digital economy, and confirms its willingness to consolidate the emirate's position as the capital of virtual assets in the world.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of the Emirate, affirmed that "Dubai has been and continues to be a pioneer in keeping pace with all modern technological changes and even contributing to making the future of these technologies, and today there is the first government authority in the Emirate of Dubai in the world of metaviruses." To launch a new phase in providing our government, regulatory and supervisory services to an open and cross-border audience through modern futuristic tools.”
He added, "The Dubai Virtual Asset Regulatory Authority is working to build a new economic sector that serves our national economy and contributes to providing investment and economic opportunities for dealers by providing safe and sustainable regulatory solutions. Today, through the presence of this authority in the world of metavirs, we are starting a new historical and technical stage in the Dubai government's path. It will be It has long-term positive effects.
0 Comments