This is the first kind of law passed to take care of such Assets. The government establishment which will supervise and implement such law will be the Dubai Virtual Asset Regulatory Authority.
An independent authority has also been established to oversee the regulation, licensing and governance of virtual assets, non-fungible tokens (NFTs), and cryptocurrencies.
The new authority, launched under the Dubai World Trade Center Authority, will safeguard personal data of users and monitor digital transactions.
