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Schedule 1 – Definitions

TermDefinition
“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.