DFSA and VARA Sign MoU to Strengthen Virtual Asset Regulation in Dubai

The Dubai Financial Services Authority (DFSA) and the Virtual Assets Regulatory Authority (VARA) have signed a Memorandum of Understanding (MoU) to enhance collaboration and strengthen the regulatory framework for virtual assets across Dubai.

The DFSA serves as the independent regulator of the Dubai International Financial Centre (DIFC), while VARA oversees the virtual assets sector across the Emirate of Dubai and its free zones, excluding the DIFC. The new MoU aims to create a unified and well-regulated ecosystem that promotes transparency, innovation, and investor confidence.

The agreement was signed at GITEX Global, the world’s largest technology and start-up event, by Mark Steward, Chief Executive of the DFSA, and Matthew White, Chief Executive Officer of VARA.

A Framework for Regulatory Collaboration

Under the terms of the MoU, both regulators will work together to:

Strengthen cooperation in licensing, supervision, and enforcement;
Support efforts to combat money laundering, terrorism financing, and proliferation financing;
Facilitate the exchange of information to ensure market integrity and bolster confidence across Dubai’s financial and virtual asset sectors.

Mark Steward, Chief Executive of the DFSA, highlighted the importance of the agreement, stating: “Regulatory cooperation is an important step forward. This MoU will help the DFSA and VARA work together and share information formally to further develop Dubai’s virtual asset sector.”

Matthew White, CEO of VARA, emphasized Dubai’s coordinated approach, adding: “Dubai’s strength lies in our ability to innovate through regulatory coordination—providing clarity for industry participants, protecting investors, and ensuring swift remediation of misconduct. This MoU reinforces our commitment to building a unified, high-integrity marketplace that sets global benchmarks for responsible innovation.”

Aligning with Dubai’s Vision for Digital Leadership

The MoU signing coincided with Dubai’s Economic Agenda D33, which positions the Emirate as a global leader in digital transformation and regulatory innovation.

Dubai continues to gain international recognition as a fintech and innovation hub. The Emirate recently ranked among the world’s top four fintech centres and moved up to 11th place globally in the Global Financial Centres Index 38 (GFCI), published on 25 September 2025.

The DFSA-VARA collaboration reinforces Dubai’s growing stature as a top-tier global hub for finance and technology, strengthening regulatory alignment and supporting the continued evolution of its virtual assets ecosystem.