迪拜的VARA加密监管机构开创了该空间，其能力有效地传达准则

加密法规已经走了很长一段路。这不再是各个政府机构之间的传球游戏：数字资产现在在许多地区都有敬业的监督者。

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.

迪拜的加密监管机构，虚拟资产监管机构（VARA）一直是该领域的先驱，有效地将准则和监管传达给了加密货币公司。

"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）在当局办公室接受Coindesk的采访时，Vara市场保证高级总监Sean McHugh说：“设定和忘记不适合加密货币，这全都与反馈和开放渠道有关。” “由于我们仅专注于加密货币，因此它使我们可以更深入地了解技术，而我们的规则是为现代时代编写的。”

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.

迪拜已成为加密货币宠儿，成为非本地加密公司建立商店并进入该地区及其他地区的首选选择之一。

"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.

“迪拜被认为是一个很棒的起点。我们已经看到了许多来自欧洲的加密货币公司，而不是来到这里，反向也是真的，我们看到许多来自亚洲另一端的公司来这里。这是一个战略性举措，监管清晰度可以帮助他们，” Mchugh补充说。”

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).

中东管辖区还在现实世界中的资产（RWA）令牌中挥舞着，迪拜土地部（DLD）最近开始了一名飞行员，以注册和转让区块链上的财产契据。瓦拉（Vara）和迪拜未来基金会（DFF）正在促进令牌化计划。

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.

对于该市的大规模房地产市场来说，房地产融合到区块链中可能是巨大的。 DLD预计，令牌化房地产将在2033年跃升至600亿迪拉姆（160亿美元），这将占迪拜总财产交易的7％。

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

麦克休（McHugh）在瓦拉办公室（Vara Office）讲话时指出，房地产仅仅是开始。

"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.

他说：“它非常受欢迎，不仅在迪拜，而且在迪拜之外。迪拜有能力更快地完成事情。”他补充说，他们还看到了许多贵金属令牌化项目。

"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."

“我们正在密切关注这个空间，我认为我们会看到更多有趣的用例，显然我们将与行业互动以获取反馈并进行相应的调整。我们不是要设置和忘记，而是关于开放的沟通渠道。”

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.

麦克休（McHugh）解释说，瓦拉（Vara）密切关注这些项目，以确保它们符合必要的监管标准，并最终为投资者提供价值。

"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.

他说：“我关注的很大一部分是客户保护。因此，尤其是当您进行分数化时，它会带来许多新的资本和散户投资者，需要受到保护。”

"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项目方面，我们问了很多问题，令牌是什么？我到底拥有什么？它是什么交易？流动性提供者是谁？投资者（机构或其他方式）他们需要流动性事件才能脱颖而出。这是我们在每个项目中钻取的事情的类型。”

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.

唐纳德·特朗普（Donald Trump）政府在美国也一直是加密货币的支持者，并且在行业领导人的看来，其他地区推动了其他地区效仿。但这不一定是阿联酋，尤其是在三年前建立的瓦拉（Vara）的情况下，很久以前，美国总统开始大声疾呼支持该行业。

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

麦克休（McHugh）认为，机构间合作将是全球加密监管的关键，但没有看到任何特定的机构领导该指控。

"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.

他说：“我认为我们不会看到一些超级监管机构，区域性或其他地区。我认为每个机构都专注于自己的客户。”他补充说，理解备忘录（MOU）和管理机构之间的开放沟通是成功观看Crypto的方法。