According to online reports, according to Cointelegraph, Dubai has announced a new financial sector strategy, listing virtual assets as one of the core pillars. The goal is to increase the scale of this sector to 3% of gross domestic product (GDP), which is approximately 13 billion United Arab Emirates dirhams (AED). As of now (year-to-date), the cumulative transaction volume of institutions regulated by the United Arab Emirates Virtual Assets Regulation Authority (VARA) has reached 2.5 trillion United Arab Emirates dirhams, and the asset management scale (AUM) has increased to 9.6 billion United Arab Emirates dirhams.