迪拜的VARA加密監管機構開創了該空間，其能力有效地傳達準則

加密法規已經走了很長一段路。這不再是各個政府機構之間的傳球遊戲：數字資產現在在許多地區都有敬業的監督者。

Dubai's crypto regulator, the Virtual Assets Regulatory Authority (VARA), has been a pioneer in the space, effectively communicating guidelines and regulation to crypto firms, according to a senior official at the authority.

迪拜的加密監管機構，虛擬資產監管機構（VARA）一直是該領域的先驅，有效地將準則和監管傳達給了加密貨幣公司。

"Set and forget does not work for crypto, it's all about feedback and open channels," said Sean McHugh, senior director of market assurance at VARA in an interview with CoinDesk at the authority's office. "Since we are exclusively focused on crypto, it allows us to get a little deeper into the tech and our rules are written for the modern-era."

瓦拉（Vara）在當局辦公室接受Coindesk的採訪時，Vara市場保證高級總監Sean McHugh說：“設定和忘記不適合加密貨幣，這全都與反饋和開放渠道有關。” “由於我們僅專注於加密貨幣，因此它使我們可以更深入地了解技術，而我們的規則是為現代時代編寫的。”

Dubai has become a crypto darling, emerging as one of the preferred choice for non-native crypto firms to set up shop and gain access to the region and beyond.

迪拜已成為加密貨幣寵兒，成為非本地加密公司建立商店並進入該地區及其他地區的首選選擇之一。

"Dubai is seen as a great jumping off point. We've seen a lot of [crypto] firms from Europe and beyond coming here and the reverse is also true, we see a lot of companies from other side of Asia come here. It's a strategic move and the regulatory clarity helps them," McHugh added.

“迪拜被認為是一個很棒的起點。我們已經看到了許多來自歐洲的加密貨幣公司，而不是來到這裡，反向也是真的，我們看到許多來自亞洲另一端的公司來這裡。這是一個戰略性舉措，監管清晰度可以幫助他們，” Mchugh補充說。 ”

The Middle Eastern jurisdiction has also been making waves in the realm of real-world assets (RWA) tokenization, with the Dubai Land Department (DLD) recently starting a pilot to register and transfer property deeds on the blockchain. The tokenization initiative is being fostered by VARA and the Dubai Future Foundation (DFF).

中東管轄區還在現實世界中的資產（RWA）令牌中揮舞著，迪拜土地部（DLD）最近開始了一名飛行員，以註冊和轉讓區塊鏈上的財產契據。瓦拉（Vara）和迪拜未來基金會（DFF）正在促進令牌化計劃。

The integration of real-estate into blockchain could be huge for the city's massive property market. DLD expects tokenized real-estate to jump to 60 billion dirhams ($16 billion) by 2033, which would account for 7% of Dubai's total property transactions.

對於該市的大規模房地產市場來說，房地產融合到區塊鏈中可能是巨大的。 DLD預計，令牌化房地產將在2033年躍升至600億迪拉姆（160億美元），這將佔迪拜總財產交易的7％。

McHugh, speaking in the VARA office, noted that real estate is just the beginning.

麥克休（McHugh）在瓦拉辦公室（Vara Office）講話時指出，房地產僅僅是開始。

"It's very popular, not just in Dubai, but beyond. Dubai has the ability to get things done quicker," he said, adding that they are also seeing a lot of precious metal tokenization projects.

他說：“它非常受歡迎，不僅在迪拜，而且在迪拜之外。迪拜有能力更快地完成事情。”他補充說，他們還看到了許多貴金屬令牌化項目。

"We're closely watching this space and I think we'll see more interesting use cases and obviously we'll be engaging with the industry to get feedback and adjust accordingly. We're not about setting and forgetting, we're about open channels of communication."

“我們正在密切關注這個空間，我認為我們會看到更多有趣的用例，顯然我們將與行業互動以獲取反饋並進行相應的調整。我們不是要設置和忘記，而是關於開放的溝通渠道。”

McHugh explained that VARA is keeping a close eye on the projects to ensure they meet the necessary regulatory standards and ultimately provide value to investors.

麥克休（McHugh）解釋說，瓦拉（Vara）密切關注這些項目，以確保它們符合必要的監管標準，並最終為投資者提供價值。

"A big part of my focus on this is customer protection. So, especially when you get to fractionalization it brings in a lot of new capital and retail investors, that need to be protected," he said.

他說：“我關注的很大一部分是客戶保護。因此，尤其是當您進行分數化時，它會帶來許多新的資本和散戶投資者，需要受到保護。”

"We ask a lot of questions when it comes to RWA projects, what is the token? what exactly do I own? What does it trade and who is the liquidity provider? Cause for investors (institutional or otherwise) they need a liquidity event to get out. And these are the type of things we drill down with each project."

“在RWA項目方面，我們問了很多問題，令牌是什麼？我到底擁有什麼？它是什麼交易？流動性提供者是誰？投資者（機構或其他方式）他們需要流動性事件才能脫穎而出。這是我們在每個項目中鑽取的事情的類型。”

The Donald Trump administration has also been a vocal proponent of crypto in the U.S. and in the opinion of industry leaders pushed other regions to follow suit. But that's not necessarily the case in the UAE, especially with VARA, which was founded three years ago, long before the U.S. president began speaking out in favor of the industry.

唐納德·特朗普（Donald Trump）政府在美國也一直是加密貨幣的支持者，並且在行業領導人的看來，其他地區推動了其他地區效仿。但這不一定是阿聯酋，尤其是在三年前建立的瓦拉（Vara）的情況下，很久以前，美國總統開始大聲疾呼支持該行業。

McHugh believes that interagency cooperation will be key for global crypto regulation, but does not see any particular agency leading the charge.

麥克休（McHugh）認為，機構間合作將是全球加密監管的關鍵，但沒有看到任何特定的機構領導該指控。

"I don't think we'd see some super regulator, regional or otherwise. I think each agency is focused on its own customers," he said, adding that memoranda of understanding (MoU) and open communication between governing bodies is the way to successfully watch over crypto.

他說：“我認為我們不會看到一些超級監管機構，區域性或其他地區。我認為每個機構都專注於自己的客戶。”他補充說，理解備忘錄（MOU）和管理機構之間的開放溝通是成功觀看Crypto的方法。