VASPs licensed to carry out Custody Services may now, with specific additional approval from VARA, provide staking services to their customers from the same legal entity and without obtaining a separate licence for VA Management and Investment Services. Additional licensing and supervision fees will be payable in connection with the provision of this additional service.
VARA is the competent entity in charge of regulating, supervising, and overseeing Virtual Asset services in the Emirate of Dubai (excluding the Dubai International Financial Centre).
Memorandum of Understanding outlines collaboration framework to institutionalise an integrated city Model for Consumer Protection and Responsible VA Operations.