Key Updates:

• Dubai’s Virtual Asset Regulatory Authority (VARA) has revamped its rulebook for digital asset trading.
• The regulator has enhanced leverage controls and collateralization requirements as detailed in its Broker-Deal and Exchange Rulebooks. This adjustment is aimed at aligning VARA’s regulations with global risk standards, as stated in an email by the authority on Monday.

VARA is also expanding its rulebook to provide stringent oversight of previously lightly regulated sectors within the crypto industry, including broker-dealers and digital wallets.

The earlier regulations from VARA have been praised for establishing Dubai as a prominent crypto hub, with major exchanges like Binance, Crypto.com, and OKX securing operation approvals under these guidelines.

VARA is now enhancing its framework, incorporating industry experience and international best practices for more robust oversight.
“These rulebook updates reinforce the foundations of a responsible, scalable ecosystem,” said Ruben Bombardi, General Counsel and Head of Regulatory Enablement at VARA.

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