Virtual Assets Regulatory Authority [VARA]

VARA periodically conducts examinations of VASPs to ensure compliance and uphold market integrity. By cooperating with VARA and the requirements, VASPs contribute to a secure, transparent, and trustworthy virtual asset market. For more information, visit our website: https://lnkd.in/etHzWpCh #VARA #DubaiRegulations

VARA is committed to strengthening regulatory security and investor protection through its virtual asset framework, establishing Dubai as a leader in the virtual asset space. By enforcing rigorous standards, VARA fosters a secure environment for innovation and market growth, ensuring investor confidence and contributing to Dubai’s reputation as a global hub for virtual assets. #VARA 

VARA’s Rulebooks serve as essential guidelines, that are designed to ensure robust governance, operational integrity, and regulatory compliance within Dubai’s dynamic virtual asset market. By following both general and specific Rulebooks, VASPs can promote responsible conduct. For more details, please visit https://lnkd.in/dqY4uWgM #VARA #DubaiRegulations

Driven by the D33 agenda, Dubai is positioning itself as a global leader in digital assets and blockchain innovation. With the government's commitment to fostering a future-ready, innovation-driven city, Dubai is not merely participating in the global conversation—it is shaping it. This forward-thinking approach establishes the city as the ideal testbed for cutting-edge technologies, driving progress and setting new standards for the digital economy. #VARA #DubaiRegulations

On Thursday December 5th, VARA, in partnership with Global Digital Finance (GDF), hosted a roundtable discussion on “Drawing Outside the Regulatory Lines,” bringing industry together to explore areas of digital finance and digital asset innovation that do not fit neatly within regulation. Discussion focused on how regulators can work collaboratively with industry to shape and develop regulations around new innovation in Dubai and globally. In particular, the conversation delved into the DeFi sector and approaches to regulatory development.  The roundtable also highlighted VARA’s approach to regulating staking, sparking valuable insights on how global regulators might embrace innovation in staking within their own frameworks.   Special thank you to Elise Soucie Watts from Global Digital Finance, Arushi Goel from Chainalysis, Hedi Navazan from 1inch, Sep Alavi from White Star Capital, Meera Judge from Binance, Tarik Erk from Crypto.com, and Sebastian W. from Komainu, for their insightful contributions.

VARA is dedicated to fostering a secure and sustainable virtual asset ecosystem by setting and enforcing robust regulatory standards. Through clear guidelines, stringent licensing processes, and the adoption of cutting-edge technologies, VARA aims to reduce risks and establish trust. By promoting a stable, secure environment, VARA encourages the responsible development of the virtual asset ecosystem, ensuring ongoing innovation while safeguarding participants and enhancing market confidence. #VARA #DubaiRegulations

For entities seeking to operate in Dubai’s virtual asset ecosystem, details regarding the application fees for Virtual Asset Service Providers [VASPs] are available in Schedule 2 of the Virtual Assets Activity & Regulations 2023. It provides transparent information on the costs associated with obtaining and maintaining a licence under VARA’s regulatory framework. https://lnkd.in/dyRhzmWN #VARA #DubaiRegulations

VARA is at the forefront of driving industry expansion through its comprehensive regulatory framework designed to advance virtual asset growth. By ensuring secure innovation and implementing robust risk management practices, VARA is committed to nurturing industry development while upholding the highest standards of security and oversight. This balanced approach fosters a thriving virtual asset ecosystem that supports both progress and sustainability. #VARA #DubaiRegulations

نفخر بدعم الرؤية الاستراتيجية لدولة الإمارات العربية المتحدة والهادفة لتعزيز الابتكار والقدرة التنافسية العالمية. وانسجاماً مع أجندة دبي الاقتصادية (D33)، نواصل التزامنا بدفع عجلة التقدم وتعزيز الاقتصاد الرقمي والمساهمة في رحلة النجاح والريادة الاستثنائية التي تقودها دبي. #عيد_الاتحاد53 #الإمارات53 #الإمارات_تستاهل We are proud to support the UAE’s strategic vision for innovation and global competitiveness. Guided by the D33 Agenda, we remain dedicated to driving progress, strengthening the digital economy, and contributing to Dubai’s exceptional journey of success and leadership. #EidAlEtihad53 #UAE53 #ForUAE

VARA’s updated marketing regulations require clear and prominent disclaimers in all virtual asset promotions, ensuring that investors are fully informed about risks, including potential loss of value and the absence of financial protection. These measures are designed to promote transparency and prevent misleading marketing practices in the virtual asset sector. #VARA #DubaiRegulations