Dubai’s Virtual Asset Regulatory Authority (VARA) has made a significant leadership change with the appointment of Matthew White as its new Chief Executive Officer (CEO). White, who has an extensive background in global advisory and technology, including his previous role as a partner at PricewaterhouseCoopers (PwC), brings a wealth of experience to lead VARA into its next phase of development.

This change in leadership comes at a crucial time for Dubai as it prepares for full-scale market operations in 2023. To ensure a secure virtual asset market, robust regulatory frameworks for virtual asset service providers (VASPs) need to be implemented. With White’s expertise in technology and digital trust, he will play a pivotal role in strengthening oversight and ensuring the market’s security.

Despite stepping down as CEO, Henson Orser will continue working with VARA in a consulting capacity. Orser’s deep knowledge of the financial sector has been instrumental in establishing a specialized regulatory regime for Dubai’s cryptocurrency market. His insights have been particularly valuable in addressing challenges arising from the FTX exchange failure.

This leadership transition aligns with the broader efforts of the United Arab Emirates (UAE) to enhance virtual asset regulations. In collaboration with multiple UAE agencies, comprehensive guidelines for VASPs were recently released, incorporating stringent penalties for unauthorized entities. The UAE is determined to remove itself from the Financial Action Task Force’s «grey list,» to which it was added in 2022.

With the combined expertise of White and ongoing support from Orser, VARA is well-equipped to navigate the evolving landscape of cryptocurrency regulation. Their appointment and continued collaboration highlight Dubai’s commitment to effective oversight and the development of a secure virtual asset market.

Preguntas frecuentes

  1. ¿Qué es VARA?
    VARA significa Virtual Asset Regulatory Authority. Es el organismo regulador responsable de supervisar a los proveedores de servicios de activos virtuales (VASPs) en Dubai.
  2. ¿Cuál es la experiencia de Matthew White?
    Matthew White cuenta con más de 20 años de experiencia en asesoramiento global y fue socio de PricewaterhouseCoopers (PwC). Su experiencia en tecnología y confianza digital lo convierte en un candidato idóneo para ocupar el cargo de CEO de VARA.
  3. ¿Henson Orser seguirá involucrado con VARA después de dejar el cargo de CEO?
    Sí, Henson Orser continuará asociado con VARA en calidad de consultor, aprovechando su experiencia financiera para apoyar al organismo regulador.
  4. ¿Cómo está fortaleciendo Dubai la regulación de los activos virtuales?
    Dubai, en colaboración con múltiples agencias de los Emiratos Árabes Unidos (EAU), ha publicado directrices exhaustivas para los VASPs. Estas directrices incorporan sanciones para las entidades no autorizadas y buscan mejorar la regulación de los activos virtuales.
  5. ¿Cuál es el objetivo de los EAU en cuanto a la regulación de los activos virtuales?
    Los EAU buscan ser eliminados de la «lista gris» del Grupo de Acción Financiera Internacional mediante el fortalecimiento de su regulación de los activos virtuales y demostrando cumplimiento con los estándares internacionales.