Dubai creates rules for the issuance of cryptocurrencies

The city of Dubai, part of the United Arab Emirates, now has an entity that will be in charge of supervising the cryptocurrency space for the issuance of them.

For a year now, city regulators have been working on creating a legal framework with the aim of attracting foreign investment in the area.

The Dubai Virtual Assets Regulatory Authority (VARA), the city’s dedicated digital asset regulator, announced new regulatory guidelines on virtual asset marketing, advertising, and promotions on August 25.

These guidelines fall within the communications related to digital assets, and all entities that publish information about it on Dubai websites.

In the rules, VARA referred to all forms of disclosure, communications and advertising, information dissemination, awareness raising, customer engagement, investor solicitation, and others.

VARA noted that the new guidelines relate to Dubai’s crypto-focused Minimum Viable Product (MVP) license.

K. Tovar

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Source: DiarioBitcoin