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Dubai’s Virtual Asset Regulatory Authority (VARA) has introduced regulatory rules on the marketing, advertising and promotion of virtual assets in the Emirate.
The rules affect all forms of outreach, communication and advertising, including publishing materials, raising awareness, attracting customers and/or attracting investors.
They apply to all information activities related to virtual assets by any organisation using media sites, search platforms, online or offline publication channels that explicitly target Emirati residents.
Advertising platforms must ensure the accuracy of the facts, clearly marking the advertisements so as not to mislead clients as to the guaranteed nature of their income.
Established in March 2022, VARA is the world's only independent regulator of virtual assets, tasked with creating a progressive framework that can provide limitless economic opportunities without compromising market security in the global virtual asset industry.
The statement said:
These regulations specifically address marketing and communications activities, ahead of operationalising the MVP licensees so that any mass-market information dissemination, and consumer solicitation are designed to safeguard community interests.
VARA was established in 2022 to regulate the virtual asset sector in the Emirate of Dubai and its free zone areas (excluding DIFC) and oversee all licensing requirements and applications for authorisation of virtual asset activities.
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