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Ronald Maguire

04 May 2022 174 Read Crypto , Metaverse

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Dubai Government Launches Metaverse

The Dubai Virtual Asset Regulatory Authority, affiliated with the Dubai Government, has launched the metaverse project. The institution, whose name is VARA, became the first regulator in the world to enter the virtual space. VARA, who started MetaHQ on The Sandbox, is building a virtual world that will be a framework for the metaverse.

Wanting to make regulators accessible to the industries around them, VARA aims to collaborate with companies in the industry with this strategy. Industry leaders, global virtual asset service providers, VASPs and regulatory authorities will be able to meet and form partnerships in this metaverse. In the future, we may see more official regulators in the metaverse world.

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