Introduction
This Virtual Asset Issuance Rulebook (“VA Issuance Rulebook”) is issued by VARA pursuant to the Virtual Assets and Related Activities Regulations 2023, as may be amended from time to time (“Regulations”), and includes requirements that all Entities in the Emirate wishing to issue a Virtual Asset must follow. | ||
| The requirements defined herein cover explicit categories and conditions to be met for VA issuances in each category, including but not limited to— | ||
| • | Category 1 VA Issuances that require a VARA Licence; | |
| • | Category 2 VA issuances; and | |
| • | Exempt VA issuances. | |
The Rules contained in this VA Issuance Rulebook operate in addition to the regulation of VA Activities carried out in the Emirate. | ||
In order to address emerging risks and the continually evolving developments in the Virtual Assets sector globally and in the Emirate, VARA will continue to monitor these Rules and any Annex hereto and amend them from time to time. In addition to the Rules in this VA Issuance Rulebook, specific Rules or Directives for certain types of Virtual Assets (as defined by VARA) shall be made available from time to time. | ||
The most updated version of the Regulations, this VA Issuance Rulebook and any additional Rules or Directives shall be made available on VARA’s website. | ||
Capitalised terms in this VA Issuance Rulebook have the meanings defined herein or as defined in Schedule 2 – Definitions. | ||