VARA Virtual Asset Regime regulation
Overview
Dubai introduced its virtual asset framework through Law No. (4) of 2022, enacted in March 2022, which set up the Virtual Assets Regulatory Authority (VARA) as an autonomous body. The authority oversees virtual asset operations throughout Dubai, including special development zones and free zones, though the Dubai International Financial Centre falls under a separate regulator. On 7 February 2023, VARA released its Virtual Assets and Related Activities Regulations 2023, which govern all virtual asset service providers and encompass exchange, broker-dealer services, custody, lending and issuance. This marked the first dedicated virtual asset regulator in the MENA region.
Within The Counterparty graph, VARA Virtual Asset Regime connects to 2 tracked entities, most strongly to Virtual Assets Regulatory Authority, United Arab Emirates.
Relations
Top connections in The Counterparty knowledge graph (confidence-weighted, 2 of 2 total).
| Relation | Connected entity | Confidence |
|---|---|---|
regulates | Virtual Assets Regulatory Authority | 95% |
applies_in | United Arab Emirates | 95% |
Frequently asked questions
What is VARA Virtual Asset Regime?
VARA Virtual Asset Regime is a regulation tracked in The Counterparty knowledge graph. It is connected to 2 other tracked entities, most strongly to Virtual Assets Regulatory Authority, United Arab Emirates.
What type of entity is VARA Virtual Asset Regime?
VARA Virtual Asset Regime is classified as a regulation (regulation) in The Counterparty knowledge graph.
What is VARA Virtual Asset Regime connected to?
In The Counterparty knowledge graph, VARA Virtual Asset Regime is linked to 2 other tracked entities, most strongly to Virtual Assets Regulatory Authority, United Arab Emirates.
Sources
Facts in this record were checked against the following. Where a claim is not covered here, the record states only what the graph holds.