Regulatory Alerts2022-01-01
VARA Administrative Order No. 01/2022 Regulating Marketing and Advertising of Virtual Assets
The Dubai Virtual Assets Regulatory Authority issued Administrative Order No. 01/2022 to establish comprehensive marketing, advertising, and promotion rules for virtual assets across the Emirate. The order mandates that all promotional content targeting UAE residents must be fair, clear, and prominently disclose asset volatility, while requiring entities to retain marketing records for at least two years and obtain prior authorization for certain virtual asset issuances used in campaigns. Non-compliant entities face immediate cease-and-desist notices, potential event suspensions, and financial penalties under Order No. 02/2022, with VARA retaining discretionary authority to enforce standards even for unlicensed or foreign marketers.
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