VARA advances its comprehensive rules for crypto service providers. These include 12 rulebooks, governing activities such as advisory, exchange, and custody services. Entities must obtain licenses from VARA, facing fines if rules are violated, excluding privacy coins issuance. Collaborating closely with stakeholders, VARA aims to make Dubai a global crypto hub. Over 1,000 applications for registration were received by VARA.
Dubai regulator VARA sets a crypto precedent for the world to follow
