Regulatory Alerts2025-06-19
VA Transfer and Settlement Services Rulebook
The Dubai Virtual Assets Regulatory Authority issues this Rulebook to establish comprehensive regulatory requirements for licensed Virtual Asset Service Providers conducting transfer and settlement services. The framework mandates robust internal policies, explicit client consent for asset encumbrance, and strict liability protocols that require VASPs to refund or restore accounts within twenty-four hours of erroneous executions. Additionally, it enforces detailed public disclosures, standardized receipt issuance, AML/CFT compliance, and legally enforceable default rules to ensure market stability and client protection.
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