Sheikh Mohammed approves law to regulate virtual assets
Dubai Virtual Assets Regulatory Authority will oversee the regulations and disclosures.
Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has approved the first ever law on regulating virtual assets.
The law was launched with an aim to make Dubai a key player in designing the future of virtual assets and promote responsible business growth.
Sheikh Mohammed confirmed that Dubai will be a key player in designing the future of virtual assets in the world: "Today we are participating in designing the future of virtual asset globally."
Sheikh Mohammed stressed that Dubai possesses all the capabilities that qualify it to be one of the most important global centers in the field of virtual assets, especially the advanced legislative environment. He said, "Dubai will provide the most advanced virtual asset ecosystem in terms of organisation, governance and security.”
“Approving the virtual asset law and establishing the Dubai Virtual Asset Regulatory Authority is a vital step that establishes the UAE’s position in this sector… a step that aims to help the sector to grow and protect investors.”
source: GOLF NEWS
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