The Dubai Digital Asset Regulatory Authority (VARA) announced plans on Tuesday to set up a head office on the metaverse in the virtual sandbox world.
“Our presence in the metaverse… marks the beginning of a new role for the Dubai Government for the future and will have a positive effect in the long run,” said Crown Prince of Dubai, Sheikh Hamdan bin Rashid Al Maktoum. and the chairman of the Dubai Executive Council said indeclarationto the WAM news agency
So far, the agency has detailed the role of “MetaHQ.” “It acts as the main channel of attraction. [Virtual Asset Service Providers] around the world to start the application and allows new licensees to enter the metaverse to openly share knowledge and experiences with consumers and regulators. To raise awareness and make it safe to use and drive collaboration around the world.”
The location of the HQ within The Sandbox has yet to be revealed.
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