r3Ddragon the Virtual Boy Emulator for Nintendo 3DS has just been released, heres the release info:

A WIP Virtual Boy emulator for the 3DS based on Reality Boy / Red Dragon. You can see the current progress here and a video of it working here.

There's an experimental dynarec implemented but it still needs optimizing.
Usage

You can place place ROMs in /vb/.

If it doesn't exist, rd_config.ini will be created. Some relevant options you can change are:

maxcycles: A lower value will improve compatibility, but it will run slower.
frmskip: Number of frames to skip before drawing.
debug: If set to 1, prints debug info.
sound: Enables sound.
dynarec: If set to 0, tries to load the dynarec cache from a file instead of recompiling.

The 3dsx will only work on exploitable system versions (<=11.2) after running fasthax.

Changelog:

Removed libhax. Homebrew launcher users will have to run a kernel exploit (like fasthax) first.
Added settings for frameskip, maxcycles, sound and debug output.
Implemented floating point instructions.

Known Issues:

Low compatibility.
Glitchy graphics on some commercial games.
Frame limiting is broken when frameskip is enabled.
Some menu options aren't implemented.
To change ROMs you have to exit first (touchscreen->File->Exit).

Download Here --> https://github.com/mrdanielps/r3Ddragon

Source