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Dubai virtual assets regulator enters metaverse in world first

Dubai virtual assets regulator enters metaverse in world first

May 9, 2022

The Dubai Virtual Asset Regulatory Authority has announced its entry into the metaverse and the establishment of its headquarters in the virtual world "The Sandbox".

As the first regulator in the world to enter the world of metaverse, the Dubai Virtual Asset Regulatory Authority seeks to establish its presence in the virtual world, 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, while at the same time ensuring market and investor protection.

Dubai Crown Prince Hamdan bin Mohammed bin Rashid said, on the occasion of the launch of the Dubai Virtual Assets Regulatory Authority's main headquarters on metaverse: "The Dubai Virtual Asset Regulatory Authority was established as a regulatory authority aimed at providing support and the safe expansion of this sector, which is witnessing a rapid trend towards decentralization and by expanding the resources of Dubai Virtual Assets Regulatory Authority to reach a cross-border audience through metaverses.


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