Dubai's Virtual Asset Regulatory Authority (VARA) has introduced guidelines on marketing of cryptocurrencies to "safeguard community interests." According to a local news outlet Gulf News, new requirements cover communications and advertising, customer engagement, and so on.
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New rules also require all local registered virtual asset service providers to "ensure factual accuracy" and avoid misleading investors with the size of returns. VARA said:
"These regulations specifically address marketing and communications activities, ahead of operationalising the MVP licensees so that any mass-market information dissemination, and consumer solicitation are designed to safeguard community interests."
Dubai set up VARA in March 2022 to ensure "maximum transparency and security" for cryptocurrency investors. The regulator handles the UAE's crypto licensing regime and monitor trades to prevent price gauging.
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