Dubai Presses for Crypto Companies to Set Up Shop

The regulator is actively courting companies. James Bernard, founding partner of consultancy JBLV and founding member of the Dubai Global Blockchain Council told CoinDesk that VARA is “inviting some of the top companies around the world to be part of its MVP,” he said, whether that be exchanges, decentralized finance (DeFi) or non-fungible token (NFT) projects. “VARA will start discussion groups that will look to create the best practice in regulations of oversight for each of those verticals,” Bernard said.