VARA CEO Matthew White highlighted that these new regulations aim to enhance trust and transparency in the cryptocurrency market.

This regulatory update follows a recent agreement between VARA and the Securities and Commodities Authority (SCA), allowing VARA-licensed providers to operate across the broader UAE market.

The UAE has been recognized as a global leader in cryptocurrency adoption, ranking third in a recent global crypto adoption index.

The UAE's Virtual Assets Regulatory Authority (VARA) has announced new marketing guidelines for digital assets that will take effect on October 1, 2024.

As part of these guidelines, companies must include a prominent disclaimer in their advertisements, stating that virtual assets 'may lose their value in full or in part' and are subject to 'extreme volatility.'

The updated regulations emphasize the importance of accurate marketing communications, avoiding misleading information, and protecting consumer interests.

The UAE's regulatory approach aligns with global trends, as countries like Belgium and the UK have also implemented stricter advertising regulations for cryptocurrencies.

Matthew White reiterated VARA's commitment to consumer protection while fostering growth and innovation in the virtual assets sector.

To assist virtual asset service providers (VASPs), VARA has introduced a comprehensive Marketing Guidance Document detailing compliant marketing activities.

These new rules are designed to ensure clarity and consistency in marketing practices within the cryptocurrency sector.

Clear guidance from VARA is intended to help VASPs operate responsibly and build trust in the cryptocurrency market.

Overall, the new guidelines reflect a significant step towards enhancing transparency and consumer protection in the rapidly evolving digital asset landscape.