| 1. | VARA may, in its sole and absolute discretion, classify, or otherwise provide clarification or opinion, by public notice either generally or in a specific case, on—
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| | a. | any Virtual Asset, or type of Virtual Asset, as being prohibited in the Emirate; |
| | b. | any Virtual Asset, or type of Virtual Asset, as being regulated by the CBUAE; or |
| | c. | VARA’s interpretation, classification or regulatory treatment of any Virtual Asset or type of Virtual Asset.
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| 2. | Virtual Assets can be objects or rights for the purposes of the application of Federal Law No. (5) of 1985 On the Civil Transactions Law of the United Arab Emirates, as may be amended from time to time, in the Emirate.
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