Virtual Assets and Related Activities Regulations 2023

Dubai’s Virtual Assets Regulatory Authority (VARA), has issued its Virtual Assets and Related Activities Regulations 2023. The Regulations set out a comprehensive Virtual Assets (VA) Framework built on principles of economic sustainability and cross-border financial security.

Regulations & Rulebooks

VARA is the world’s first, tailor-made Virtual Asset regime, and as such, its VARA Regulations are designed to specifically cater for the provision of permissible activities and services to customers and investors, from the emirate of Dubai. Published on: 7 February 2023 pursuant to the final approval of the Board of Directors, in accordance with Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai. The definition of Virtual Assets is set out in Law No. [4] of 2022 Regulating Virtual Assets in the Emirate of Dubai.

VARA reserves the right to modify, refine, adjust, and/or expand these regulations on a regular basis at its sole and absolute discretion, to remain resilient and progressive in its ability to address emerging and continually evolving developments across the global VA industry.