TechFlow News, October 28 — According to Ming Pao, Deepa Raja Carbon, Deputy Chairman and Managing Director of Dubai's Virtual Assets Regulatory Authority (VARA), said that Dubai maintains close communication with Hong Kong regulators, recognizes Hong Kong’s regulatory approach, and is willing to explore interoperability opportunities in suitable transactions and business areas.
As the world's first jurisdiction with an independent virtual asset regulator, Dubai has so far issued licenses to 22 Virtual Asset Service Providers (VASPs), including Binance, OKX, Bybit, and Crypto.com. VARA plans to accelerate international engagement with other governments to ensure licensed firms can meet multi-market demands and mitigate unregulated risks.
Carbon emphasized that VARA is actively advancing virtual asset education initiatives and closely collaborating with artificial intelligence departments to coordinate regulation in emerging fields. The authority is committed to establishing a globally standardized regulatory framework, while allowing countries to adapt it according to their own needs, promoting healthy development of the virtual asset industry.
