| 1. | Entities in the Emirate may only issue Virtual Assets that fall within Category 2 above provided that, all placement and distribution is carried out by a Licensed Distributor. |
| 2. | Provided that Rule I.E.1 of this VA Issuance Rulebook is met, Entities in the Emirate that issue Virtual Assets that fall within Category 2 above do not need prior approval from VARA. |
| 3. | Licensed Distributors who provide Licensed Distribution Services to Issuers of Virtual Assets that fall within Category 2 above, assume the responsibility for assuring and validating that the Issuer complies with this VA Issuance Rulebook. |
| 4. | Licensed Distributors who provide Licensed Distribution Services to Issuers of Virtual Assets that fall within Category 2 above, must continue to comply with all other applicable Regulations, Rules and Directives, as well as any conditions of their Licence, at all times when providing such services. |
| 5. | No Virtual Asset issued under Category 2 shall be deemed in any way to have been approved by VARA and may not be construed or considered as such. VARA makes no representation and does not provide any warranties regarding any Issuer or Virtual Asset including, but not limited to, their fitness for purpose, suitability or regulatory status in any jurisdiction.
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