Dubai regulator approves rules for advertising crypto projects
The guidelines issued by VARA require materials to be factually accurate and prohibit misleading investors about returns
30.08.2022 - 10:25
334
1 min
0
What’s new? Dubai’s Virtual Asset Regulatory Authority (VARA) has approved guidelines for the advertising of cryptocurrencies and related products within the Emirate. The rules require factual accuracy from advertising materials published by licensed digital asset providers and also prohibit misleading investors about the returns of projects.
What else is known about the initiative? The guidelines cover all forms of advertising and communications, as well as any online or offline channels of information dissemination aimed at customers of the Dubai market. VARA representatives stressed that the measure is aimed at protecting the interests of the community.
In May, VARA announced the creation of its virtual headquarters in The Sandbox metaverse.
According to an April study by Toluna, 33% of UAE residents invested in cryptocurrencies, while another 18% planned to invest in digital assets.
In July, the Prince of Dubai, Sheikh Hamdan bin Mohammed, unveiled a strategy for the development of blockchain technologies and metaverses. According to the plan, 40 000 virtual jobs will be created by 2027 and the number of crypto companies will increase by 500%.
Useful material?
Technologies
It is available to crypto wallet users worldwide as an additional feature
May 15, 2024
Market
The ex-official known for his initiatives to explore the potential of blockchain in the financial system has joined the board of directors of a fintech company
May 14, 2024
Business
Earlier, Brad Garlinghouse claimed apparent harassment of the company by the US authorities
May 14, 2024
Crypto regulations
According to Brad Garlinghouse, the magnitude of the impact of such harassment on the crypto ecosystem is beyond prediction
May 13, 2024
Crypto regulations
The condition is part of the exchange’s agreement with authorities to plead guilty to regulatory violations
May 13, 2024
Market
The USDT issuer responded by saying that the report lacked sufficient data to support such claims
May 10, 2024