New VARA guidelines require enhanced disclaimers on virtual asset ads in the UAE.
Bonuses tied to crypto promotions must receive approval from VARA.
The updated rules aim to boost transparency, safety, and consumer protection.
Dubai’s Virtual Assets Regulatory Authority (VARA) has released new marketing guidelines for virtual asset firms, according to a Bloomberg report. The updated guidelines require stronger disclaimers about the risks of cryptocurrency investments.
Starting October 1, companies promoting virtual assets in the United Arab Emirates (UAE) must include a clear warning in their advertisements, stating that virtual assets are volatile and may lose value.
VARA’s Chief Executive Officer, Matthew White, said the updated guidelines aim to ensure that virtual asset service providers (VASPs) operate responsibly.
“We believe that by providing clear and actionable guidance, we can help VASPs deliver their services responsibly, while fostering greater trust and transparency in the market,” White noted.
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