Dubai’s Crypto Regulator Acquires Land in the Metaverse for its Headquarters

Dubai’s cryptocurrency regulator has become the first national regulator to purchase land in the metaverse, with intentions to construct a virtual headquarters. According to a statement from VARA to the WAM news agency on Tuesday, Dubai’s Virtual Assets Regulatory Authority (VARA) will construct its “MetaHQ” using The Sandbox metaverse platform. MetaHQ intends to provide digital consumers with virtual access to regulatory resources, which will become increasingly vital as the company’s digital presence grows Dubai's Crypto Regulator Buys Land in the Metaverse For Headquarters . Dubai's crypto regulator is the first national watchdog to acquire land in the metaverse with plans to establish a virtual headquarters. — Eason tt (@qianjin56551456) May 3, 2022 Dubai is Prototyping a Decentralized Regulator Model “By extending VARA’s resources to a global audience via the Metaverse, Dubai is prototyping a Decentralized Regulator Model, inviting international thought leaders – global authorities, governance custodians, and industry shapers – to participate, exchange knowledge, and problem-solve collectively so that we can enable the dynamic virtual assets sector to build economic resilience, accelerate social inclusion, and address environmental sustainability,” Crown P. said. The development comes as the United States, although in the real world, strives to strengthen regulatory oversight of digital assets. The Securities and Exchange...