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

https://twitter.com/qianjin56551456/status/1521623396433686528
<h2>Dubai is Prototyping a Decentralized Regulator Model</h2>
<blockquote>"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.</blockquote>
The development comes as the United States, although in the real world, strives to strengthen regulatory oversight of digital assets.

The Securities and Exchange Commission (SEC) announced Tuesday that it would appoint 20 new members to the unit to protect investors in crypto markets and against cyber-related concerns.
<h2>SEC Announced - Crypto Assets and Cyber Unit</h2>
The SEC announced that the newly renamed Crypto Assets and Cyber Unit, previously known as the Cyber Unit, will now have 50 people, including the new employees.
<blockquote>"The United States has the strongest capital markets because investors have faith in them," SEC Chair Gary Gensler said. "As more investors access the crypto markets, it is increasingly critical to devote more resources to protecting them."</blockquote>
The new SEC positions will oversee cryptocurrency exchanges, lending and staking, and non-fungible tokens (NFTs), among other things.

VARA did not say when MetaHQ will be available to users or how much the digital land will cost.

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.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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

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