Dubai's Virtual Assets Regulatory Authority (VARA) has issued a warning regarding firms misrepresenting their involvement in a blockchain-based property title deed initiative, which launched on March 19, 2025. VARA stated that only entities explicitly approved by the Dubai Land Department (DLD) and VARA are authorized to participate in this real estate tokenization pilot. Promoting unauthorized participation may infringe on local virtual asset laws. Although VARA did not disclose specific company names, the warning comes as the Token 2049 conference approaches, an event that has previously been associated with scams. The tokenization initiative aims to facilitate approximately 7% of property deals in Dubai by 2033, valued at around 60 billion dirhams ($16 billion), highlighting the city's ambition to establish itself as a leading global hub for technology and digital assets.

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