Regulatory Alerts2025-05-07
Compliance and Risk Management Rulebook
The Dubai Virtual Assets Regulatory Authority (VARA) issues this binding rulebook to establish comprehensive compliance and risk management standards for all licensed Virtual Asset Service Providers (VASPs). The framework mandates the appointment of a dedicated Compliance Officer and the implementation of an independent compliance management system alongside robust risk measurement protocols. It further enforces stringent Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) obligations, including client due diligence, suspicious transaction monitoring, and FATF Travel Rule adherence.
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