Virtual Assets Regulatory Authority regulator
Overview
The Virtual Assets Regulatory Authority (VARA) is the specialized regulatory body for virtual assets in Dubai, established under Dubai Law No. 4 of 2022. It oversees the licensing, regulation, and supervision of virtual asset service providers within the emirate of Dubai (excluding the Dubai International Financial Centre). VARA operates under the Dubai World Trade Centre Authority and is responsible for developing the regulatory framework for the virtual asset sector.
Within the DeFi Intel graph, Virtual Assets Regulatory Authority connects to 18 tracked entities, most strongly to Binance, Hex Trust, Deribit.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 10 of 18 total).
| Relation | Connected entity | Confidence |
|---|---|---|
regulates | Binance | 95% |
regulates | Hex Trust | 95% |
regulates | Deribit | 95% |
issued | Binance FZE VARA VASP Licence | 95% |
issued | Deribit FZE VARA VASP Licence | 95% |
issued | Backpack Exchange VARA VASP Licence | 95% |
regulates | Backpack Exchange | 95% |
issued | Hex Trust VARA VASP Licence | 95% |
regulates | VARA Virtual Asset Regime | 95% |
regulates | Crypto.com | 90% |
Frequently asked questions
What is the Virtual Assets Regulatory Authority?
The Virtual Assets Regulatory Authority (VARA) is the specialized regulatory body for virtual assets in Dubai, established under Dubai Law No. 4 of 2022. It oversees the licensing, regulation, and supervision of virtual asset service providers within the emirate of Dubai, excluding the Dubai International Financial Centre.
Which entities are regulated by VARA?
Entities regulated by VARA include Binance, Deribit, Hex Trust, and Backpack Exchange, as indicated by their VARA VASP Licences.
Under which authority does VARA operate?
VARA operates under the Dubai World Trade Centre Authority.