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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
29 May 2023

Regulated Virtual Assets Activities are now offered at DET branches

The Virtual Assets Regulatory Authority (VARA), in collaboration with the Department of Economy and Tourism (DET), hereby notify you that the Regulated Virtual Assets Activities, which were issued on 7 February 2023, are now offered at DET branches.
23 May 2023

Creation of new Licence Code for VA Proprietary Trading

4 May 2023

Web3 launchpad Enjinstarter MENA granted Initial Approval by the Dubai’s Virtual Assets Regulatory Authority

Web3 launchpad and advisory company Enjinstarter MENA announced today that it has been granted initial approval by Dubai’s Virtual Assets Regulatory Authority (VARA).
1 May 2023

BitOasis becomes the first Broker-Dealer to secure MVP Operational Licence from Dubai’s Virtual Asset Regulatory Authority

BitOasis, MENA’s leading regional cryptocurrency trading platform has secured an MVP Operational Licence from Dubai’s VARA, completing the final step in the MVP process.
14 Apr 2023

Dubai's DET and Free Zone Council activate applications for legacy virtual asset operators to become fully regulated under VARA

The Virtual Assets and Related Activities Regulations 2023, establishes clear requirements for the VA sector to be fully regulated under VARA in the Emirate of Dubai, including all businesses offering products and services associated with the sector.
20 Mar 2023

Crypto.com Secures MVP Preparatory License from Dubai’s Virtual Assets Regulatory Authority

Crypto.com, trusted by more than 80 million customers worldwide and the industry leader in regulatory compliance, security and privacy, confirmed today that it has received its MVP Preparatory License from Dubai’s Virtual Assets Regulatory Authority (VARA).
13 Mar 2023

Application Acknowledgment Notice [AAN] for Virtual Asset Service Providers [VASPs], and Transition of Legacy Firms3 – Deadline 31 March 2023.

17 Feb 2023

GCEX Receives MVP Preparatory Licence from Dubai’s Virtual Assets Regulatory Authority

Digital Prime Brokerage, GCEX MENA, part of the GCEX Group, has received its MVP Preparatory license from Dubai’s Virtual Asset Regulatory Authority (VARA).
10 Feb 2023

Virtual Assets Licensing Activities Issuance from February in the Emirate of Dubai [excluding DIFC]

7 Feb 2023

Dubai’s VARA issues specialised regulations for Virtual Assets

Dubai’s Virtual Asset Regulatory Authority (VARA), has issued its Virtual Assets and Related Activities Regulations 2023. The Regulations set out a comprehensive Virtual Asset (VA) Framework built on principles of economic sustainability and cross-border financial security.
24 Nov 2022

Hex Trust receives MVP Licence from Dubai’s Virtual Assets Regulatory Authority

Hex Trust, the leading fully licenced and insured provider of bank-grade custody and associated services for digital assets, has received the Minimum Viable Product (MVP) licence from Dubai’s Virtual Asset Regulatory Authority (VARA).
21 Nov 2022

Komainu Secures MVP Licence from Dubai’s Virtual Assets Regulatory Authority

Komainu, a regulated digital asset custody provider built by institutions for institutions, has announced today that it has received the minimal viable product (MVP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA), following the issuance of its provisional approval in July 2022.
19 Sep 2022

Binance Secures MVP Licence from Dubai's Virtual Assets Regulatory Authority

Binance, the leading global blockchain services provider, has announced today that it has received the Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA), following the issuance of its provisional license in March 2022.
25 Aug 2022

VARA issues Regulations governing Virtual Assets Marketing as the foundation for Safe Market participation

The world's only independent regulator for Virtual Assets (VA), Dubai’s Virtual Asset Regulatory Authority (VARA), has launched operations for its customised licensing regime this month.