In a recent announcement by Dubai’s virtual asset regulatory authority ( VARA ), the Department of Economy and Tourism is now offering regulated virtual assets activities in its branches. This means that Virtual Asset Service Providers (VASPs) seeking to conduct business in Dubai’s mainland or make changes to their current commercial licenses may submit their applications for the below-mentioned activities at DET branches. The list of Regulated Virtual Assets Activities (require a license from VARA) include, VA Advisory Services,   VA Broker-Dealer Services,   VA Custody Services,   VA Exchange Services, VA Lending and Borrowing Services and   VA Management and Investment Services. In addition to VA propriety trading which requires a NOC from VARA.  Firms carrying on VA activities in Dubai [except DIFC] prior to 7 February 2023 [Legacy VASPs], must have their applications seeking regulatory oversight or relevant guidance from VARA by the final deadl...