The Virtual Assets Regulatory Authority (VARA) has updated its rulebook, now Version 2.0, to improve compliance within the virtual assets landscape. This initiative promotes better market discipline and transparency.
More than 30 licensed virtual asset service providers (VASPs) in Dubai are expected to adapt to these changes, with enhanced supervisory mechanisms introduced for various VA services.
Ruben Bombardi, General Counsel of VARA, emphasized the importance of combining innovation with compliance, reiterating the regulator’s commitment to fostering a responsible ecosystem.
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