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CryptoIntelligence 2024-04-14 20:55:48

UAE’s VARA Unveils Plan to Ease Regulatory Costs for Small Crypto Firms at Paris Blockchain Week

UAE’s VARA Unveils Plan to Ease Regulatory Costs for Small Crypto Firms at Paris Blockchain Week

Dubai’s cryptocurrency sector is witnessing significant transformations, with new efforts aimed at supporting smaller players who are currently weighed down by heavy regulatory costs. Matthew White, the CEO of Dubai’s Virtual Asset Regulatory Authority (VARA), spoke about these challenges and the authority’s plans to address them during the Paris Blockchain Week. White revealed that VARA is actively seeking ways to improve the regulatory framework for cryptocurrencies, acknowledging the existing system’s imperfections and the disproportionate impact on smaller entities. He expressed a commitment to making adjustments that would benefit all market participants. “It’s not perfect. There’s a number of things I’m

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