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Dubai’s Virtual Assets Regulatory Authority (VARA) has introduced stricter marketing guidelines to enhance transparency in cryptocurrency investments. Starting October 1, every firm marketing virtual assets within the UAE must prominently display a disclaimer warning potential investors about the inherent risks and possible extreme volatility of these investments.
VARA Chief Executive Officer Matthew White emphasized the commitment to responsible service delivery by virtual asset service providers (VASPs). He noted that these updated regulations aim to cultivate trust and transparency, mirroring regulatory efforts seen in countries like Belgium and Singapore.
In addition to the risk disclaimers, the new rules also stipulate that firms must obtain compliance confirmation from VARA when offering incentives. This measure ensures that promotions do not mislead investors about the risks associated with virtual assets.
