Dubai crypto market hits 50 licensed firms after new VARA approval

Dubai's regulated crypto market has reached 50 licensed firms under the Virtual Assets Regulatory Authority (VARA), following a new approval. However, only 39 Virtual Asset Service Providers (VASPs) were fully operational at the end of 2025, according to the source.

The milestone underscores Dubai's continued push to position itself as a global hub for digital assets, attracting both startups and established players. The gap between licensed and fully operational firms suggests a cautious regulatory approach, with VARA maintaining rigorous compliance standards before granting full operational status. This measured expansion could bolster investor confidence in the region's crypto ecosystem, as regulatory clarity often correlates with increased institutional participation.

For traders and investors, the development signals a maturing regulatory environment that may reduce jurisdictional risk for crypto businesses operating in or from Dubai. As more firms become fully operational, liquidity and service availability could improve, potentially benefiting retail and institutional participants alike. Traders can monitor the impact of regulatory developments on market sentiment through NowPrice's live crypto dashboard, which tracks price movements across major exchanges.

Going forward, market participants will watch for the pace at which the remaining licensed firms transition to full operational status, as well as any new licensing categories or rule updates from VARA. The regulator's stance on emerging areas such as decentralized finance (DeFi) and tokenization could further shape Dubai's competitive position against other crypto-friendly jurisdictions like Singapore and Abu Dhabi.