Dubai’s Virtual Assets Regulatory Authority (VARA) has established a new deadline for all cryptocurrency exchanges and service providers to comply with its updated regulatory framework. In a recent announcement, VARA published Version 2.0 of its activity-based Rulebooks. This includes improved supervisory mechanisms across seven regulated virtual asset activities, such as exchange services and lending. Dubai VARA’s New Crypto Rulebook The updated VARA rulebooks include improvements across seven key regulated virtual asset activities. The main focus is on strengthening market safeguards and also maintaining Dubai’s innovation-friendly approach. The comprehensive framework covers advisory services, broker-dealer services, custody services, and exchange services. It also includes lending and borrowing services, virtual asset management and investment services, and virtual asset transfer and settlement services. Version 2.0 introduces stronger controls specifically around margin trading and token distribution services. These are areas that have seen increased activity in Dubai’s growing cryptocurrency market. The revisions also provide clearer… Read More at Coingape.com
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