Regulatory Alerts2024-01-01
Marketing Regulations on Virtual Assets and Related Activities 2024
The Virtual Assets Regulatory Authority (VARA) issued the 2024 Marketing Regulations to govern all domestic and foreign entities conducting virtual asset activities in Dubai. The rules mandate that businesses obtain VARA approval or a no-objection confirmation before offering regulated virtual asset services, while existing approved entities benefit from a ninety-day transition period to align their marketing practices with the new framework. Non-compliance with these mandatory requirements and associated penalties applies to all authorized, unlicensed, and individual market participants.
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