Dubai VARA Sets June 19 Deadline for Crypto Firms to Comply with New Rules

The Dubai Virtual Assets Regulatory Authority (VARA) has issued a June 19 deadline for crypto firms to comply with its updated activity-based rulebooks, aiming to enhance market integrity and risk oversight. These updates, versioned 2.0 of the Rulebooks, include heightened control measures on margin trading and token distribution services. VARA has harmonized compliance needs across all licensed activities and clarified definitions of collateral wallet arrangements.