At the Consensus Week in Hong Kong on February 15, 2026, Irina Heaver, founder of NeosLegal, addressed a captivated audience about the complexities surrounding real-world asset (RWA) tokenization and crypto licensing in the UAE. Known as the “UAE Crypto Lawyer,” Heaver has structured over 300 Web3 projects since 2016, and her message was unequivocal: establishing a solid legal foundation is paramount for successful tokenization.
Heaver”s insights underscored a stark reality in the industry: neglecting legal groundwork can lead to project failure. While technology may function adequately, the absence of a robust legal framework can result in swift downfalls. She has witnessed numerous startups and established institutions falter due to inadequate compliance with UAE crypto legislation.
The surge in RWA tokenization is evident, with sectors such as commodities, real estate, and private credit moving towards blockchain solutions rapidly. However, Heaver cautioned the Hong Kong audience that the challenge extends beyond technical implementation. Proper company structuring, clearly defined token rights, and comprehensive adherence to UAE laws are prerequisites before any project launch.
During her presentation, Heaver emphasized that many projects collapse because founders underestimate the importance of legal design from the outset. In a regulated environment like the UAE, ensuring compliance is not merely advisable; it is essential for survival.
NeosLegal specializes in navigating the complexities of RWA tokenization, virtual asset service provider (VASP) licensing, and UAE crypto regulations. The firm assists projects from conception through regulatory approval, helping them comply with the guidelines set forth by the Virtual Assets Regulatory Authority (VARA) and the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA).
Understanding the regulatory landscape in the UAE can be daunting, particularly for newcomers. In Dubai, digital assets are primarily governed by VARA, which requires projects to obtain issuer authorization or platform licensing based on their structure. The specific requirements can vary significantly depending on the intended use of the tokens.
Abu Dhabi presents a different regulatory environment, with the FSRA operating within the ADGM framework. Heaver highlighted that choosing the wrong regulatory route can lead to substantial financial and temporal losses, as she has seen companies struggle with misclassification issues that could have been avoided with adequate planning.
VARA”s role is expanding as demand for asset tokenization rises, and Heaver noted that the authority”s regulations require meticulous attention to ensure compliance. Mistakes in documentation can lead to costly regulatory challenges, making it vital for companies to grasp the nuances of local regulations.
Since 2016, the UAE has emerged as a leader in blockchain innovation, attracting a diverse array of projects thanks to its progressive regulatory framework. Each project necessitates a tailored legal strategy to ensure compliance and scalability in this rapidly evolving sector. Heaver”s extensive experience places her at the forefront of this dynamic environment.
As international firms eye opportunities in the UAE market, NeosLegal”s expertise in navigating VARA and ADGM regulations becomes increasingly essential. The session underscored the importance of strategic regulatory engagement for success in the region.
Heaver also addressed the hurdles associated with tokenizing real-world assets, reiterating the need for clear legal frameworks from the beginning. Despite the transformative potential of tokenization for asset management, effective management of legal and regulatory challenges is crucial.
The UAE”s regulatory landscape has attracted over $2.3 billion in blockchain investments since 2022, positioning Dubai and Abu Dhabi in a competitive race for market share. The pressures from jurisdictions like Singapore and Switzerland to enhance their digital asset regulations compel the UAE to continuously refine its approach.
Recent VARA enforcement actions against non-compliant platforms serve as a stark reminder of the regulatory scrutiny present in the industry. Three major exchanges faced penalties totaling $4.2 million in late 2025 due to inadequate Know Your Customer (KYC) procedures, validating Heaver”s warnings regarding the importance of compliance. Meanwhile, the ADGM approved 47 new digital asset licenses in 2025, illustrating the dual nature of opportunity and risk in the region.
