In order to protect crypto investors, Dubai issues a series of marketing rules involving digital assets. Check out more data about this below.
Dubai issues a new set of crypto rules
According to the latest reports, Dubai’s new Virtual Asset Regulatory Authority requires more clarity and transparency from industry marketers and promoters to protect investors.
As we already reported, Dubai is moving forward with a new license program for crypto service providers. Now, it’s been revealed that the local regulators are introducing additional marketing and advertising rules for the industry.
Dubai’s Virtual Asset Regulatory Authority (VARA), the city’s dedicated crypto regulator, reportedly announced new regulatory guidelines on the marketing, advertising and promotions of virtual assets on Thursday.
Cointelegraph notes that in the rules, the VARA referred to the following:
“all forms of outreach, communications and advertising, dissemination of information, building awareness, customer engagement, investor solicitation and others.”
This is what the local news agency Gulf News reported. Check out more details about this in the original post.
Dubai in the news
At the end of last year, we were revaling that Dubai allows Bitcoin trading within tax-exempt economic zones.
The mainstream adoption of digital assets has been one of the main goals that the crypto industry set and the have been a lot of moves made in this direction.
They continue and the one mentioned above is just another drop in the big glass of digital asset adoption.
— Bitcoin Magazine (@BitcoinMagazine) September 22, 2021
Back in July, we revealed that the COO of the Kraken crypto exchange has something to say about the UAE. Check out the tweet that he dropped not too long ago.
The UAE has the 3rd-highest per-capita crypto adoption rate in the world 🇦🇪
Kraken COO @DavidLRipley: “The UAE is fast becoming a global crypto hub with its technologically savvy population and a regulator who understands and embraces innovation.” 🚀 pic.twitter.com/9lOjb9VZpV
— Kraken Exchange (@krakenfx) July 5, 2022
The UAE is a destination that is becoming more and more loved by a lot of crypto enthusiasts.