Understanding between "Dubai Financial Services" and"Regulation of virtual assets" To enhance organizational cooperation
DUBAI, 15 October / WAM / The Dubai Financial Services Authority, the independent regulator of the Dubai International Financial Centre, today signed a memorandum of understanding with the Virtual Assets Regulatory Authority, the authority responsible for regulating virtual assets in the Emirate of Dubai, including the free zones established therein, with the exception of the Dubai International Financial Centre.
The memorandum aims to enhance the level of cooperation and coordination between the two regulatory authorities in performing their duties within the scope of their respective jurisdictions, and to support the development of a strong and highly regulated market for virtual assets in Dubai.
The memorandum was signed by Mark Steward, CEO of the Dubai Financial Services Authority, and Matthew White, CEO of the Virtual Assets Regulatory Authority, on the sidelines of the GITEX Global exhibition.
Under the memorandum, the two parties will cooperate on issues of licensing, supervision and enforcement, support efforts to combat money laundering, terrorist financing and proliferation financing, and facilitate the exchange of information to enhance integrity and trust in the financial and virtual asset markets in Dubai.
The cooperation between the Dubai Financial Services Authority and the Virtual Assets Regulatory Authority comes at a time when Dubai ranked among the top four financial technology centers in the world, and advanced to eleventh place in the world according to the Global Financial Centers Index in its version issued on September 25, 2025. The emirate assumed this ranking driven by its firm commitment to promoting innovation within the framework of the Dubai Economic Agenda “D33”.
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