Regulatory Alerts2025-06-19
Compliance and Risk Management Rulebook
The Dubai Virtual Assets Regulatory Authority (VARA) requires licensed Virtual Asset Service Providers to implement a comprehensive compliance management system and appoint a qualified, full-time Compliance Officer. The framework mandates robust risk management protocols, strict anti-money laundering controls, and the secure handling, reconciliation, and disclosure of client funds and virtual assets. Licensed entities must maintain detailed records, conduct periodic audits, submit quarterly risk reports to their boards, and ensure continuous regulatory compliance across all operational functions.
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