Ian Johnston, President of the Dubai Financial Services Authority (DFSA), said in an exclusive interview with Wen Wei Po in Hong Kong that the key foundation for supporting innovation is to create an innovative culture and have a clear strategic vision. In addition to formulating relevant development policies and establishing innovation centers and accelerators, Dubai has also tailored a comprehensive digital asset regulatory system to balance innovation and effective supervision. According to Chuang, the Dubai Financial Services Authority has developed two comprehensive digital asset regimes for the Dubai International Financial Centre (DIFC): one for investment tokens (tokenized assets) in 2021, and another for crypto tokens (cryptocurrencies and stablecoins) in 2022. These regimes clarify regulatory expectations and provide market participants with certainty, which gives market participants the confidence to offer virtual asset products and services. The Dubai Financial Services Authority has created an Innovation Testing Licence (regulatory sandbox) and a bespoke innovation and technology risk oversight team with expertise in overseeing technology-enabled financial products and service offerings.