The UAE regulator allows virtual asset service providers (VASP) to offer services

ChainCatcher news, the Securities and Commodities Authority (SCA) of the United Arab Emirates and the Virtual Assets Regulatory Authority (VARA) in Dubai announced an agreement that will allow the country's virtual asset service providers (VASP) to supervise each other. According to the agreement, VASP operating in Dubai and wishing to obtain VARA licensing can be registered with the SCA by default, providing services to the wider UAE. However, the SCA clarified that VASP wishing to operate outside of Dubai in other emirates must still obtain the regulatory authority's license.