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A. Establishment of VARA

Effective from Feb 07 2023 - Sep 18 2023
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1. VARA jurisdiction.
  a. The Dubai VA Law and these Regulations apply to all Virtual Assets and VA Activities in the Emirate.
  b. VARA has sole and absolute discretion to interpret, waive, modify or otherwise adapt these Regulations in exercising its powers and in furtherance of its functions and objectives under the Dubai VA Law.
2. VARA powers and functions.
  a. VARA has such functions, powers and objectives as are conferred on it by or under the Dubai VA Law and any amendments thereto.
  b. VARA may do whatever it considers necessary for or in connection with, or reasonably incidental to, exercising its powers, performing its functions and fulfilling its objectives under the Dubai VA Law.
3. Power to amend Regulations. VARA may, from time to time, amend these Regulations in its sole and absolute discretion.