VARA Issues Updated Activity Rulebooks to Strengthen Market Integrity and Risk Oversight

The updated Rulebooks include enhanced supervisory mechanisms across the following regulated virtual asset [VA] activities:

• Advisory services
• Broker-dealer services
• Custody services
• Exchange services
• Lending and borrowing services
• VA management and investment services
• VA transfer and settlement services
• Virtual Asset Issuance Rulebook

Key refinements in Version 2 include strengthened controls around margin trading and token distribution services, clearer definitions for collateral wallet arrangements, and harmonised compliance requirements across all licensed activities. The updates are designed to promote greater market discipline, risk transparency, and operational resilience across Dubai’s VA ecosystem.

In line with global regulatory best practices, a 30-day transition period has been granted to all impacted virtual asset service providers [VASPs], with full compliance required by 19 June 2025. VARA’s Supervision Teams will engage directly with each licensed entity to provide activity-specific guidance as needed.

The revised Rulebooks are available for public access via VARA’s official website:
https://rulebooks.vara.ae/