February 23, 2026
Methodology About Newsletter
WE THE UAE 2031
The Vanderbilt Terminal for the UAE's National Transformation
INDEPENDENT GLOBAL INTELLIGENCE FOR THE UNITED ARAB EMIRATES
UAE GDP: AED 2.03T ▲ 5.7% | Non-Oil GDP Share: 84.3% ▼ -5.2pp | FDI Inflows: $45.6B ▲ 48.7% | GDP Growth: 4.0% ▲ -0.3pp vs 2023 | Inflation: 1.7% ▼ +0.0pp vs 2023 | Female Participation: 55.1% ▲ +0.6pp vs 2023 | Population: 11.0M ▲ 4.8% | Emiratisation Rate: 12.5% ▲ 2.1pp | Global Competitiveness: #7 ▲ 3 places | Clean Energy Capacity: 7.2 GW ▲ 18.4% | ADX Index: 9,842 ▲ 4.7% | DFM Index: 4,621 ▲ 6.2% | UAE GDP: AED 2.03T ▲ 5.7% | Non-Oil GDP Share: 84.3% ▼ -5.2pp | FDI Inflows: $45.6B ▲ 48.7% | GDP Growth: 4.0% ▲ -0.3pp vs 2023 | Inflation: 1.7% ▼ +0.0pp vs 2023 | Female Participation: 55.1% ▲ +0.6pp vs 2023 | Population: 11.0M ▲ 4.8% | Emiratisation Rate: 12.5% ▲ 2.1pp | Global Competitiveness: #7 ▲ 3 places | Clean Energy Capacity: 7.2 GW ▲ 18.4% | ADX Index: 9,842 ▲ 4.7% | DFM Index: 4,621 ▲ 6.2% |

Definition

The Virtual Assets Regulatory Authority (VARA) is Dubai’s independent regulator dedicated to the oversight of virtual assets and related activities. Established in 2022 under Dubai Law No. 4 of 2022, VARA is the world’s first dedicated government authority created specifically to regulate virtual assets at the emirate level. VARA’s mandate covers licensing and supervision of exchanges, brokers, custodians, lending platforms, and other virtual asset service providers (VASPs) operating in Dubai, including entities within most free zones but excluding the DIFC.

UAE Context

Dubai created VARA as part of its strategy to become a leading global hub for blockchain and digital assets. The authority issues mandatory licenses across seven categories of virtual asset activities and enforces compliance with anti-money laundering (AML) and combating the financing of terrorism (CFT) requirements. Major global crypto exchanges including Binance, Bybit, and OKX have obtained VARA licenses, relocating regional operations to Dubai. VARA’s risk-based regulatory approach aims to balance innovation with investor protection and financial stability.

Key Data

  • Established: 2022
  • Legal basis: Dubai Law No. 4 of 2022
  • Jurisdiction: Dubai mainland and most free zones (excluding DIFC)
  • License categories: Seven activity-based categories for VASPs
  • Key licensees: Binance, Bybit, OKX, Crypto.com
  • Focus areas: Licensing, AML/CFT compliance, market conduct, consumer protection

Significance for Vision 2031

VARA directly supports the UAE’s objective of becoming a global leader in digital economy regulation. By creating a clear, purpose-built framework for virtual assets, Dubai attracts blockchain companies, fintech talent, and institutional capital. VARA’s regulatory clarity reduces uncertainty for market participants and positions the UAE ahead of many jurisdictions still developing crypto regulation, contributing to the Vision 2031 goal of technology-driven economic growth.

  • Blockchain - Underlying technology VARA regulates
  • Fintech - Broader sector encompassing virtual asset innovation
  • DIFC - Financial free zone with its own separate crypto framework
  • FATF Compliance - International AML standards VARA enforces