At the Future Blockchain Summit in Dubai, Matthew White, CEO of the Virtual Assets Regulatory Authority (VARA), declared that crypto has entered its “mainstream moment.” His message was clear: regulation is no longer a roadblock but the runway. Read on for more interesting things the VARA CEO had to say!
The year the regulation became accelerated
2024 marked a turning point for crypto regulation, and 2025 is proving to be its payoff year. Speaking to a packed audience at Dubai Harbor, Matthew White explained how the tide has shifted from uncertainty to clarity.
“In 2024, global policymakers finally moved from reaction to construction,” the VARA CEO said. “What we are seeing now is regulation becoming a growth engine for digital assets.”
The crypto market is no longer operating in a vacuum. White cited the bipartisan GENIUS Act in the United States as the most important regulatory shift yet, a law that establishes a clear framework for stablecoins and digital assets.
Across Asia, he noted, countries like Singapore, Japan, and Hong Kong are crafting rules to weave virtual assets into mainstream finance. “And here in Dubai,” the VARA CEO added, “VARA is ensuring that the city stands out as a trusted hub for innovators, institutions, and retail investors looking to enter this space responsibly.”
Stablecoins take center stage
White described stablecoins as the bridge between crypto and real-world finance. Their growth, he said, has outpaced market cycles and moved beyond speculative trading.
“Stablecoins are now disrupting payments and banking systems. This isn’t a forecast; it’s a fact,” he emphasized.
Trading volumes have risen steadily, with some estimates showing around 50% annual growth. They are catching up to traditional payment networks and, surprisingly, becoming large holders of U.S. Treasuries.
“Through stablecoins, the dollar is spreading into economies in a new way,” White, VARA CEO, explained. “It’s a quiet kind of dollarization that even helps address U.S. debt demand.”
His remarks echo the rising trend of stablecoin-driven payment solutions across the UAE, where local businesses and global investors are adopting digital settlements under VARA’s regulatory clarity.
Tokenization: The next financial revolution
Shifting from digital money to digital markets, White pointed to tokenization as the next trillion-dollar frontier. He quoted Larry Fink, CEO of BlackRock: “Every stock, every bond, every fund, every asset can be tokenized. If they are, it will revolutionize investing.”
White agreed wholeheartedly. “That is exactly what we are building towards,” he said. “Tokenization can make investing faster, more democratic, and more transparent.”
Citing McKinsey’s projection of $2 trillion in tokenized assets by 2030, White called the estimate “an understatement.” He believes the true figure could be far higher once regulated infrastructure catches up with innovation.
“Dubai’s advantage,” the VARA CEO added, “is that we are laying the policy foundation first, so the market can scale safely.”
The risks that remain
While optimistic, White did not ignore the challenges ahead. He warned that macroeconomic uncertainty, rising interest rates, inflation, and global liquidity shocks will continue to affect crypto markets.
“We’re not fully decoupled from traditional finance yet,” he said. “But every year, that correlation weakens as the crypto economy builds real utility.”
He also highlighted regulatory fragmentation as a risk. While the U.S., UAE, and parts of Asia are advancing, other jurisdictions remain unclear, which could slow global harmonization.
From speculation to structure
The VARA CEO, White’s address painted a clear picture: the crypto market is maturing into a regulated, institution-ready sector. What began as a decentralized experiment is evolving into a global financial system with rules, transparency, and trust at its core.
“We’ve moved from hype to infrastructure,” he concluded. “The next wave of growth will come from utility, stablecoins in payments, tokenized assets in markets, and regulated venues like Dubai leading the charge.”
The takeaway from the VARA CEO
White, VARA CEO’s speech at the Future Blockchain Summit underscores a global shift: crypto is no longer fighting for legitimacy; it is building it. The crypto market has entered an era where regulation enables innovation, stablecoins connect economies, and tokenization reshapes capital markets.
From the U.S. to the UAE, and from Wall Street to Dubai Harbor, the message is the same: crypto’s next leap will be built on trust.
