Schedule 1 – Definitions
Term | Definition |
“Directive” | has the meaning ascribed to it in the Regulations. |
“Distributed Ledger Technology” or “DLT” | has the meaning ascribed to the term “Distributed Ledger Technology” in the Dubai VA Law. |
“Dubai VA Law” | means Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai, as may be amended from time to time. |
“Emirate” | means all zones across the Emirate of Dubai, including Special Development Zones and Free Zones but excluding the Dubai International Financial Centre. |
“Entity” | means any legal entity or individual. |
“Exchange Services” | has the meaning ascribed to it in Schedule 1 of the Regulations. |
“Guidance” | has the meaning ascribed to it in the Regulations. |
“Guidance on Marketing Regulations” | means this Guidance on Regulations on the Marketing of Virtual Assets and Related Activities 2024, as may be amended from time to time. |
“Licence” | has the meaning ascribed to it in the Regulations. |
“Licensed” | means having a valid Licence. |
“Marketing” | has the meaning ascribed to it in Marketing Regulation I.A.1. |
“Marketing Regulations” | means the Regulations on the Marketing of Virtual Assets and Related Activities 2024. |
“Regulations” | means the Virtual Assets and Related Activities Regulations 2023, as may be amended from time to time. |
“Rule” | has the meaning ascribed to it in the Regulations. |
“UAE” | means the United Arab Emirates. |
“VA Activity” | means the activities listed in Schedule 1 of the Regulations, as may be amended from time to time. |
“VA Issuance Rulebook” | means the Virtual Asset Issuance Rulebook issued by VARA pursuant to the Regulations, as may be amended from time to time. |
“VA Wallet” | has the meaning ascribed to the term “Virtual Asset Wallet” in the Dubai VA Law. |
“VARA” | means the Dubai Virtual Assets Regulatory Authority. |
“VASP” | means an Entity authorised by VARA to conduct VA Activity(ies) in the Emirate. |
“Virtual Asset” or “VA” | has the meaning ascribed to it in the Dubai VA Law. |