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Dubai’s regulatory body for virtual property (Vara) has published an upgraded version of its rules to improve market integrity and risk management. Crypto regulator expects that companies that have licensed the welfare will in accordance with the updated rules up to 19 June 2025.
Vara from Dubai improved control of margins with trade and token distribution services, synchronized compliance requirements in all licensed activities, while providing clear definitions for collateral arrangements.
Vara publishes a version of the 2.0 Regulations
Virtual regulatory body (cheats) announced Revelation of versions 2 based on activities Regulations As part of a permanent commitment to the construction of the regulatory framework of the digital assets in Dubai, which can withstand the test of time. While the regulator seeks to build a regulatory framework that can withstand the future, it notices the importance of balance of innovation with “robust protective measures on the market”.
The updated version includes “strengthened controls around the trading and distribution services of token, clearer definitions for collateral wallet arrangements and harmonized compliance requirements in all licensed activities.” According to the announcement, purification is designed to promote “greater market discipline, risk transparency and operating resistance through” ecosystems of virtual assets in Dubai.
Version 2.0 Regulations introduce an improved supervisory mechanism in eight (8) regulated activities of virtual assetsincluding:
- Advisory services
- Custody services
- Exchange services
- Broker services
- Lending and borrowing services
- Virtual management of assets and investment services
- Virtual Property Services for Transfer and Settlement
- Rulebook for Issuing Virtual Property
Vara announced a 30-day transitional period to all influential providers of virtual asset services (VASPS), which required complete compliance until June 19, 2025.
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