April 3, 2022
Many have been following the development of everything virtual and seeking a way to manage them in a more efficient and regulated environment.
Dubai leads the way again in the world of digital innovation, with the creation of a brand new government authority to back the virtual assets economy.
You can register & trade crypto currencies, NFT's and anything virtual.
As with anything new, there are a few acronyms to get familiar with, and here is what you need to know.
Dubai Virtual Assets Regulatory Authority (VARA)
Dubai World Trade Centre Authority (DWTC)
VARA is responsible for the issuing and trading side as well as maintaining the personal data protection and overseeing 'fair play' in this virtual world. DWTC is a free zone in Dubai which is authorized to license the owners and traders of virtual assets.
Anything that can be registered digitally that has a value and can be traded or that can be exchanged or used to make a payment or to be held for investment purposes.
That means you can register, trade, pay with and store crypto currencies, NFT's as well as any other forms of tokenized assets.
It's officially recognized, secure and as with all free zones in the UAE, there is no tax to pay on your profits, guaranteed!
A full service from the registration, exchange and transfer of assets, public offerings and custody services as well as all of the compliance and support services you would expect from a leading global platform.
Trading of all types carries risk, but you can now do so within a fully compliant and monitored framework backed by the Government of Dubai with all of the oversight required by the regulator to maintain a secure platform.
DWTC, one of the leading free zones in Dubai is approved to give you access to VARA, the official registrar of the assets and you will need to set up a license at DWTC to get started.
Talk to us at OnPro about your portfolio and plans for the future, and we would be delighted to help get you registered.
