Regulatory Alerts2025-06-19
Virtual Assets and Related Activities Regulations 2023
The Dubai Virtual Assets Regulatory Authority (VARA) has enacted a comprehensive framework governing virtual assets and related activities across all Dubai zones. The regulations mandate that virtual asset service providers obtain VARA licensing, comply with anti-money laundering and counter-terrorist financing obligations, and adhere to strict marketing, market conduct, and confidentiality standards. It establishes a principles-based regime that prohibits anonymity-enhanced cryptocurrencies while granting VARA broad supervisory, enforcement, and rule-making powers to ensure market integrity and consumer protection.
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