The Dubai Virtual Assets Regulatory Authority plans to promote machine economy regulation through cooperation with the DePIN protocol peaq.

PANews October 17 news, according to Cointelegraph, the DePIN protocol peaq has signed a memorandum of understanding with the Dubai Virtual Assets Regulatory Authority (VARA) to establish a regulatory framework for on-chain Bots technology and tokenization of machines. The memorandum revolves around peaq's Machine Economy Free Zone, with other areas of cooperation including providing guidance for projects applying for VARA licenses, conducting joint training programs on technology and compliance, and sharing data to support research and regulatory work. The Dubai Machine Economy Free Zone was launched in July and is a controlled environment for testing how Bots technology and artificial intelligence operate within decentralized networks. Max Thake, co-founder of peaq, stated that the agreement “reflects the significant commitment of both parties to realize the Machine Economy in a compliant manner and enable people to participate, build, and benefit from a whole new economic domain.”