Dubai's Virtual Assets Regulatory Authority (VARA) has mandated that licensed digital asset companies comply with its updated Rulebooks by June 19. The new regulations aim to enhance market integrity and risk management across various virtual asset activities. Key changes include tightened controls around margin trading, harmonized compliance requirements, and clearer definitions of collateral wallet arrangements. A 30-day transition period has been provided for virtual asset service providers (VASPs) to adjust to these modifications. Additionally, VARA has set new licensing prerequisites and investor protections related to token distribution, especially concerning marketing restrictions for retail offerings. The focus is to align with global best practices and address regulatory gaps to facilitate compliance within the digital asset ecosystem.

Source 🔗