The UAE Ministry of Interior and the Dubai Virtual Assets Regulatory Authority (VARA) have partnered to combat financial crimes related to virtual assets. They will share information on illicit transactions and unlawful practices in order to ensure the security and integrity of the virtual assets sector in the UAE. Both entities will develop training programs, task forces, and electronic platforms to monitor and detect suspicious activities. The collaboration aims to strengthen the regulatory framework and enhance consumer confidence in the virtual asset service providers operating in Dubai. Recent investigations in Dubai have uncovered several cases of money laundering involving virtual assets, totaling $65.3 million.



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