Baker Tilly: At the Forefront of Crypto Audits in Dubai

Why Dubai’s crypto boom is putting audits in the spotlight

Dubai has long been a destination that is able to draw new and emerging businesses, thanks to its ever-robust market and forward-looking mindset. The city has become a home for crypto exchanges, blockchain startups, and token projects. In response to this rapidly growing sector, Dubai established the Virtual Assets Regulatory Authority (VARA) – a dedicated framework designed to give crypto businesses clear structured rules by regulating and overseeing the provision, use, and exchange of virtual assets in and from the emirate of Dubai.

Add in the government’s ambitious push to make Dubai the world’s blockchain capital, zero income tax, and a thriving international business environment, and it’s no wonder big names in the crypto-world have set up shop here.
This surge has naturally brought new expectations where investors, partners, and regulators are paying closer attention. Questions around governance, cyber-security, and compliance are becoming a standard part of doing business in Dubai’s digital asset landscape.
 

Where do we fit in?

We at Bakertilly have been right in the middle of this shift, pioneering tailored audit approaches for crypto-related entities.
Traditional audit procedures such as third-party confirmations and bank reconciliations may not directly apply in the context of blockchain-based assets as testing the existence, ownership, and completeness of digital assets introduces further technical considerations.
 

Why is that so important here?

Because Dubai’s crypto community isn’t just aiming to be another global player, it is striving to set the pace. As the market grows more sophisticated, having credible audit and assurance processes is what often separates the companies that attract partnerships and long-term capital from those that stay on the sidelines.

We at Bakertilly have and continue to provide such high-quality audit services to the Virtual Asset Service Providers (VASPs) with our dedicated specialized team.

A final thought

For us, it’s exciting to see this level of ambition paired with a real commitment to doing things the right way. As Dubai cements its position as a leading hub for digital assets now and in the future, we are proud to be one of the pioneer service providers in the market that shapes the future now, for tomorrow.