In this episode of Blockchain Leaders Insights, host Paul Hearns from Blockchain Ireland is joined by Paul Boots, Senior Director and Head of Sector Development at VARA (Virtual Asset Regulatory Authority) in Dubai, along with Pearse Ryan, Head of the Legal and Regulatory Working Group at Blockchain Ireland. Together, they explore how Dubai is setting a new global benchmark for virtual asset regulation through a uniquely flexible and innovation-driven approach.

Paul Boots shares his journey from early involvement in Dubai’s diamond and fintech sectors to now playing a pivotal role in developing the region’s virtual asset ecosystem. He provides a behind-the-scenes look at how VARA was designed specifically for the digital asset space, making it one of the few regulators worldwide not rooted in traditional finance. This fresh start has allowed VARA to build a regulatory framework that is agile, business-friendly, and aligned with the fast-paced nature of blockchain and crypto innovation.

The discussion also explores the strategic reasons why Dubai is becoming a preferred destination for blockchain and crypto companies. From its pro-business tax policies and advanced infrastructure to lifestyle factors that attract global talent, Dubai is more than a launchpad—it's a long-term base for growth. Paul explains how VARA not only regulates but actively supports companies entering the market, offering guidance through licensing, partnerships with free zones, and even helping firms navigate banking and insurance.

A major highlight is VARA’s real-world pilot programs, which enable licensed VASPs to test innovative services in live environments with defined guardrails. This model offers more flexibility and market insight than traditional sandboxes, helping to shape regulation through hands-on collaboration.

Whether you're a founder looking to scale globally, a policymaker exploring regulatory innovation, or just interested in how crypto and blockchain are evolving, this episode delivers valuable insights into the future of virtual asset governance—and why Dubai is at the forefront.

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Available on the Blockchain Ireland website: https://www.blockchainireland.ie/podcasts/

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Host: Paul Hearns - Co-chair of the Events and Comms Working Group, Blockchain Ireland

https://www.linkedin.com/in/paulhearns/

Host: Pearse Ryan - Chair of the Legal & Regulatory Working Group, Blockchain Ireland

https://www.linkedin.com/in/pearse-ryan-33474111/

Guest: Paul Boots - Senior Director, Head of Sector Development at VARA

https://www.linkedin.com/in/paul-boots-34749b1/

https://www.vara.ae

https://www.linkedin.com/company/varadubai/

https://www.linkedin.com/company/blockdaemon/

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About Blockchain Ireland

Blockchain Ireland is an initiative aimed at promoting and enhancing Ireland's position as a global hub for blockchain technology. It was launched by the Irish Blockchain Expert Group (IBEG), led by IDA Ireland, and includes a collaboration of Irish-based organisations.

The main goals of Blockchain Ireland are to serve as a central source of information on the growing blockchain, crypto and Web3 ecosystem, to support the development of blockchain technology in Ireland, and to create awareness of industry developments both nationally and internationally.

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