Dubai's VARA Makes History: First Regulator to Establish Headquarters in The Sandbox Metaverse
Dubai's Virtual Assets Regulatory Authority (VARA) is breaking new ground, becoming the world's first regulator to establish a headquarters in the metaverse! VARA has launched its MetaHQ in ‘The Sandbox’, a dynamic virtual world. This head-turning move signifies a major step towards better serving the metaverse and shaping the framework for the emerging Metaverse landscape.
The Virtual Assets Regulatory Authority (VARA) is the sole authority regulating virtual assets across Dubai’s free zones and mainland, except within the jurisdiction of Dubai International. On Tuesday, Dubai's Virtual Assets Regulatory Authority (VARA) declared that it would be the world's first regulator to join the metaverse, establishing a HQ in virtual world The Sandbox. This innovative approach demonstrates VARA's commitment to staying at the forefront of virtual asset regulation and engaging with the rapidly evolving digital landscape.
Dubai’s Virtual Assets Regulatory Authority (VARA) announced its entry into the Metaverse with the establishment of its Metaverse HQ in the dynamic virtual world of ‘The Sandbox’. This strategic move positions VARA to effectively oversee and guide the development of virtual asset activities within the metaverse, solidifying Dubai's position as a leading hub for innovation in the virtual asset space.