According to Jacques Visser, Director of Legal Affairs at the Dubai International Financial Centre (DIFC), the Dubai Financial Services Authority (DFSA) has focused more on cross-border regulation in addition to the introduction of digital asset law. Dubai is one of the first jurisdictions to propose a "statement of basic principles to define what constitutes a digital asset." Continuing to seek extensive consultation globally to address cross-border regulatory issues of virtual assets in accordance with international standards, it is currently carefully studying a digital asset plan of about 3 years by the Law Commission of the United Kingdom. Ken Coghill, Director of Innovation and Technology Risk Supervision at the Dubai Financial Services Authority, said that regulators in Dubai will listen to and refer to the opinions of the industry, and use this as a basis to review existing regulations, promote regulatory progress, and formulate more realistic and effective regulations.