Dubai's Virtual Assets Regulatory Authority (VARA) is a government agency established to regulate the virtual asset market in Dubai. It provides a comprehensive legal framework for virtual asset activities, including licensing and supervision of businesses operating in the sector. VARA aims to promote Dubai as a global hub for virtual assets while ensuring investor protection, market integrity, and financial stability. It fosters innovation and responsible growth in the virtual asset industry by setting clear standards and guidelines for companies dealing with cryptocurrencies and related services.