Dubai VARA Sets Compliance Deadline for Crypto Exchanges
- Dubai’s Virtual Assets Regulatory Authority (VARA) has set a compliance deadline for cryptocurrency exchanges and service providers.
- VARA released Version 2.0 of its activity-based Rulebooks, enhancing supervisory mechanisms across seven virtual asset activities.
- The updated framework covers services such as advisory, broker-dealer, custody, exchange, lending, management, and transfer services.
- New controls focus on margin trading and token distribution due to increased market activity in Dubai.
- The revisions aim to harmonize compliance requirements, promoting market discipline and risk transparency.
VARA’s updated rulebooks are designed to strengthen market safeguards while maintaining an innovation-friendly approach in Dubai’s growing cryptocurrency sector.
Source (2.6)https://coingape.com/dubai-vara-sets-june-19-deadline-for-exchanges-to-comply-with-new-rules/?rand=24432
