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Dubai VARA comprehensive virtual-asset regulations

VARA's 2023 rulebook established licensing and conduct requirements for virtual-asset activities including exchange, custody, broker-dealer, lending and management services in Dubai outside the DIFC. It was a broad virtual-asset framework rather than a Bitcoin-specific law.

VARA's 2023 rulebook established licensing and conduct requirements for virtual-asset activities including exchange, custody, broker-dealer, lending and management services in Dubai outside the DIFC. It was a broad virtual-asset framework rather than a Bitcoin-specific law.

The practical Bitcoin channel was bitcoin exchanges/custody included. The measure or case operated through law, licensing, custody, trading, or compliance rather than changing Bitcoin's protocol; where allegations or proposals were involved, they remained allegations or proposals at this stage.

The Bitcoin connection ran through bitcoin exchanges/custody included. Comprehensive regulatory framework affecting Bitcoin service providers.

Sources

  1. Dubai’s VARA issues specialised regulations for Virtual Assets
  2. VARA Virtual Assets and Related Activities Regulations 2023