The UAE is taking a major step toward unified crypto regulation, allowing virtual asset service providers (VASPs) licensed in Dubai to operate across the entire country. More than 50 firms already licensed through the Dubai Integrated Information Portal now qualify to offer their services throughout the UAE under a new nationwide virtual asset licence framework — removing a key barrier to crypto business expansion beyond Dubai.
VARA and SCA Sign Landmark Cooperation Agreement
The expansion is anchored by a formal cooperation agreement between the Dubai Virtual Assets Regulatory Authority (VARA) and the UAE Securities and Commodities Authority (SCA). Together, the two regulators will co-regulate VASP activities, licensing, supervision, and enforcement across all emirates.
Under the agreement, VASPs licensed in Dubai are automatically treated as approved to operate nationwide for securities and commodities under the SCA. Firms based in other emirates, however, must still seek SCA approval to offer services country-wide — preserving regulatory order while rewarding Dubai's established licensing pipeline.
Streamlining Crypto Business from Dubai to All Emirates
His Excellency Mohamed Ali Al Shorafa, speaking on the significance of the deal, underscored the urgency of building a solid and secure environment for virtual assets in the UAE. The framework's architecture is designed to reduce administrative duplication, allowing licensed crypto businesses to scale from Dubai into the broader UAE market with far less regulatory friction.
The agreement also covers mutual supervision mechanisms, penalty and fine coordination, and the exchange of data and statistics between VARA and the SCA — giving regulators cross-emirate oversight without creating jurisdictional gaps.
UAE Ranks Third in Global Crypto Adoption
The policy move arrives at a significant moment. The UAE was ranked third globally in the Henley & Partners Crypto Adoption Index 2024 — behind only Singapore and Hong Kong — reflecting the country's strong regulatory clarity, innovative ecosystem, and high proportion of crypto users relative to population.
By treating Dubai's existing VASP licensing regime as a national gateway, the UAE is consolidating that competitive advantage and positioning itself as the most accessible major jurisdiction for compliant virtual asset businesses in the region.
