{"id":60937,"date":"2022-05-03T17:36:11","date_gmt":"2022-05-03T14:36:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=60937"},"modified":"2025-09-05T09:11:29","modified_gmt":"2025-09-05T06:11:29","slug":"dubai-regulator-to-open-office-in-the-sandbox-metaverse","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/dubai-regulator-to-open-office-in-the-sandbox-metaverse\/","title":{"rendered":"Dubai regulator to open office in The Sandbox metaverse"},"content":{"rendered":"<p>Dubai&#8217;s Virtual Assets Regulatory Authority has announced the opening of its headquarters in the The Sandbox metaverse.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Dubai\u2019s Virtual Assets Regulatory Authority becomes world\u2019s first regulator to make its debut in <a href=\"https:\/\/twitter.com\/hashtag\/Metaverse?src=hash&#038;ref_src=twsrc%5Etfw\">#Metaverse<\/a><a href=\"https:\/\/twitter.com\/hashtag\/WamNews?src=hash&#038;ref_src=twsrc%5Etfw\">#WamNews<\/a> <a href=\"https:\/\/t.co\/qWUTSwvUjT\">https:\/\/t.co\/qWUTSwvUjT<\/a> <a href=\"https:\/\/t.co\/SoGth4nnpF\">pic.twitter.com\/SoGth4nnpF<\/a><\/p>\n<p>\u2014 WAM English (@WAMNEWS_ENG) <a href=\"https:\/\/twitter.com\/WAMNEWS_ENG\/status\/1521447981790150657?ref_src=twsrc%5Etfw\">May 3, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Virtual Assets Regulation Authority (VARA) said it would become the emirate&#8217;s first government body and a global regulator with a presence in the virtual world.<\/p>\n<p>The department explained the move as an effort to increase the accessibility of its services, and to facilitate cooperation among cryptocurrency service providers, industry leaders, and supervisory authorities.<\/p>\n<p>In March, Dubai authorities <a href=\"https:\/\/u1f987.com\/en\/news\/dubai-adopts-cryptocurrency-regulation-and-establishes-a-regulatory-authority\">enacted a virtual assets law and established VARA<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abDubai regards the virtual assets sector as a driver of the future global economy. VARA was created at a turning point in response to the expansion of the emirate&#8217;s incredibly complex and modern legal framework regulating activity in the industry\u00bb, \u2014 said Helal Saeed Almarri, head of the Dubai World Trade Centre Authority.<\/p>\n<\/blockquote>\n<p>In his words, the regulator&#8217;s foray into the metaverse contributes to the creation of a borderless new market that provides sustainable economic freedom.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abAcquiring VARA land in The Sandbox symbolises our belief in this sector, and it is the government&#8217;s duty to serve as a bridge that allows investors and consumers to safely adopt and jointly scale this economy\u00bb, \u2014 added him.<\/p>\n<\/blockquote>\n<p>Earlier, after the regulation was enacted, Dubai granted licenses to major bitcoin exchanges such as <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-secures-licence-in-dubai\">FTX<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/binance-secures-licence-in-dubai\">Binance<\/a>.<\/p>\n<p>In May, the crypto hedge fund Three Arrows Capital announced its relocation to the emirate <a href=\"https:\/\/u1f987.com\/en\/news\/three-arrows-capital-to-relocate-headquarters-from-singapore-to-dubai\">from Singapore<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dubai&#8217;s cryptocurrency regulator announced the opening of its headquarters in The Sandbox metaverse.<\/p>\n","protected":false},"author":1,"featured_media":60938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[272,1353,2060,1361],"class_list":["post-60937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dubai","tag-metaverses","tag-the-sandbox","tag-virtual-world-innovations"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=60937"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60937\/revisions"}],"predecessor-version":[{"id":60939,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60937\/revisions\/60939"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/60938"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=60937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=60937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=60937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}