EddieJayonCrypto
26 Sep 24
Dubai's Virtual Asset Regulatory Authority has updated its marketing guidelines for crypto investments, requiring clear risk disclaimers. Starting October 1st, crypto firms in Dubai must include disclaimers stating that virtual assets may lose value and are subject to extreme volatility. The updated...
Dubai's Virtual Asset Regulatory Authority has updated its marketing guidelines for crypto investments, requiring clear risk disclaimers. Starting October 1st, crypto firms in Dubai must include disclaimers stating that virtual assets may lose value and are subject to extreme volatility. The move comes amid rising interest in crypto investments and growing demand for sophisticated products in Dubai. VARA is dedicated to creating a regulatory environment that protects consumers and supports the growth and innovation of the virtual assets sector.
The updated guidelines are part of VARA's "Marketing Guidance Document" and aim to help virtual asset service providers (VASPs) navigate the regulatory framework and protect investors by raising awareness of the risks associated with virtual asset investments. The regulations seek to create a standardized approach for licensed entities and apply to all entities involved in marketing virtual assets or related activities.
VARA emphasizes the accuracy of marketing communications, avoidance of misleading information, and the protection of consumer interests. These guidelines will ensure that firms provide clear, consistent messaging, helping them navigate through Dubai’s regulatory framework confidently.
VARA's CEO, Matthew White, emphasized the authority's commitment to creating a regulatory environment that not only protects consumers but also supports the growth and innovation of the virtual assets sector in Dubai.