Introduction
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The Dubai Virtual Assets Regulatory Authority [VARA] was established and authorised by Law No. [4] of 2022 Regulating Virtual Assets in the Emirate of Dubai [Dubai VA Law] to regulate Virtual Asset Service Providers [VASPs].
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This Market Conduct Rulebook is issued pursuant to, and forms part of, the Virtual Assets and Related Activities Regulations 2023 [the Regulations] issued by VARA and applies to all VASPs Licensed by VARA to carry out any VA Activity in the Emirate.
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This Market Conduct Rulebook applies in addition to all other requirements in the Regulations as may be in force from time to time. As such, VASPs Licensed by VARA to carry out any VA Activity must also comply with the following Rulebooks applicable to all VASPs:
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| • | Company Rulebook; | |||
| • | Compliance and Risk Management Rulebook; | |||
| • | Technology and Information Rulebook; and | |||
| • | All Rulebooks specific to the VA Activities that the VASP is Licensed by VARA to carry out. |
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Capitalised terms in this Market Conduct Rulebook have the meanings ascribed to them in the Regulations or as otherwise defined herein or provided in Schedule 1.
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Unless otherwise stated, all requirements in this Market Conduct Rulebook are Rules and have binding effect.
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