Dubai Regulators Introduce Improved Virtual Asset-Related Oversight
Dubais Virtual Asset Regulatory Authority (VARA) released an upgraded version of its Rulebooks to improve market integrity and risk management. The crypto regulator expects VARA-licensed companies to comply with the updated rules by June 19, 2025.
Dubais VARA improved controls over margin trading and token distribution services, synchronised compliance requirements across all licensed activities, while also providing clear definitions for collateral wallet arrangements.
VARA Releases Version 2.0 of the Rulebooks
The Virtual Asset Regulatory Authority (VARA) announced the publication of Version 2 of its activity-based Rulebooks as part of Dubais ongoing commitment to constructing a digital asset regulatory framework that can stand the test of time. While the regulator seeks to build a regulatory framework that can withstand the future, it notes the importance of balancing innovation with robust market safeguards.
The updated version includes strengthened controls around margin trading and token distribution services, clearer definitions for collateral wallet arrangements, and harmonised compliance requirements across all licensed activities. according to the announcement the refinements are designed to promote greater market discipline, risk transparency, and operational resilience across Dubais virtual asset ecosystem.
Version 2.0 of the Rulebooks introduces an improved supervisory mechanism across eight (8) regulated virtual asset activities, including:
- Advisory services
- Custody services
- Exchange services
- Broker-dealer services
- Lending and borrowing services
- Virtual asset management and investment services
- Virtual asset transfer and settlement services
- Virtual Asset Issuance Rulebook
The VARA announced a 30-day transition period to all impacted virtual asset service providers (VASPs), requiring full compliance by June 19, 2025.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Text source: Crypto Daily™
