The Dubai Cryptocurrency Regulatory Authority (VARA) has released the "2023 Virtual Assets and Related Activities Regulations" on its official website. Crypto companies must obtain authorization and relevant licenses to operate in Dubai. The regulations stipulate that virtual currency service providers (VASPs) that meet the licensing requirements of the Dubai Cryptocurrency Regulatory Authority will need to comply with 4 mandatory rulebooks (involving companies, compliance and risk management, technology and information, and market behavior), and 7 activity-specific rulebooks (advisory, broker-dealers, custody, trading, lending, payment and remittance, and management and investment) have also been formulated to address the risks associated with providing each virtual asset activity.