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Spirit Sonya
@spiritsonya
🇦🇪 Important update in the UAE crypto space! #UAE #VASP ▫️Regulators: SCA and VARA ▫️Goal: Simplify VASP licensing ▫️Coverage: Entire UAE ⬇️Key points: 1️⃣Virtual Asset Service Providers (VASPs) licensed in Dubai can now serve the entire country after obtaining a license from VARA. 2️⃣The agreement covers mutual supervision mechanisms, penalties, information exchange, and staff training. 3️⃣This is a significant step toward ensuring the security and stability of the UAE’s crypto ecosystem. 🪙The UAE continues to strengthen its position as one of the global leaders in crypto adoption.
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