Dubai’s Virtual Assets Regulatory Authority (VARA) is set to implement new regulations requiring crypto businesses to disclose the names of substantial holders. These changes aim to protect consumers and increase transparency within Dubai’s burgeoning cryptocurrency market. Blockchain technology, with its permanent and readily available record-keeping capabilities, will facilitate this move. Matthew White, VARA’s head, explained that while not necessarily demanding specific individual identities, this initiative aims to expose the ownership structure of crypto tokens, especially those held by institutions or venture capitalists. This disclosure approach may help investors better comprehend the products they are purchasing and understand potential risks associated with large-scale token holdings.