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17 Nov 2023

MARKET Notice: Market-wide enforcements pick-up pace as final VARA deadline for Virtual Asset Service Provider licensing engagement lapses

This market notice is being issued by Dubai’s Virtual Assets Regulatory Authority (VARA) to highlight to all industry stakeholders, and consumers that the deadline for VA sector entities to engage in the regulatory licence application process has now elapsed. As formally announced on 05.November further to multiple advisories since Q2-2023, entities operating within the virtual asset domain were required to commence procedural engagement with VARA on/or before 17.November.2023.
16 Nov 2023

VARA moves to full-market operations with leadership transition - Matthew White to take over from Henson Orser as new CEO

Dubai’s Virtual Assets Regulatory Authority (VARA) is pleased to announce Matthew White as the new Chief Executive Officer (CEO) to lead VARA through its next phase of ramp up to full scale market operations this year.
14 Nov 2023

Creation of New Licence Code for VA Issuance [Category1]

7 Nov 2023

Final deadline extension for Virtual Asset Service Providers to file for VARA registration or license to operate from or service Dubai

Significant strides in registering applicants as Dubai’s VA sector transitions to becoming fully regulated
12 Oct 2023

VARA Defines Issuance Rules to be the Global Standard on Asset Reference Tokens

Dubai, October 12, 2023: Dubai's Virtual Assets Regulatory Authority (VARA) takes the first-of-its-kind regulatory position on issuance of specific categories of Virtual Assets backed by Real World Assets including but not limited to FIAT, offering greater assurance for cross-border interoperability. The September 2023 edition of VARA’s Virtual Asset (VA) Issuance Rulebook, makes Dubai’s regime amongst the world's first to proactively establish prudential requirements for two specialist categories of tokens that maintain a stable value against their underlying asset class.
24 Aug 2023

VARA Releases Staking from Custody Services Rules

VARA has published a revised Custody Services Rulebook, permitting Staking from Custody Services in accordance with the prescribed requirements of the amended rulebook.
10 Aug 2023

VARA and DET Join Forces to Establish Best-in-class Market Assurance Standards for Virtual Assets

Memorandum of Understanding outlines collaboration framework to institutionalise an integrated city Model for Consumer Protection and Responsible VA Operations.
18 Jul 2023

SCA-VARA to ensure Unified VA Sector Register of Regulated VASPs for the UAE

The Securities and Commodities Authority (SCA) announced that it had received licensing requests and inquiries from companies intending to provide Virtual Asset services following the issuance of the necessary regulations.
22 Jun 2023

VARA Publishes Clarification and Further Information on Fees

The Dubai Virtual Assets Regulatory Authority [VARA] announced earlier today a schedule of fees covering the issuance of NOC, amendments or withdrawal of licence applications, and the submission of whitepapers.
15 Jun 2023

OKX Middle East Receives MVP Preparatory Licence From VARA in Dubai

UAE to serve as strategic global and regional business hub, OKX to expand to 30 staff