UAE Virtual Asset Regulatory Authority (VARA) Regulations
Virtual Assets and Related Activities Regulations 2023 – UAE Virtual Asset Regulatory Authority (VARA) Regulations

UAE Virtual Asset Regulatory Authority (VARA) Regulations REG-IV.A: Regulations IV.A: Licensing requirements, conditions and exemptions

What does REG-IV.A require?

Obtain a VARA licence for each VA activity before carrying it on, follow the prescribed licensing process and comply with all licence conditions, Regulations, Rules and Directives; when doing licensed activities outside Dubai, meet VARA's standards as a minimum and the higher of the two regimes. Lawyers, accountants and licensed consultants acting purely incidentally to their profession are exempt if they stay authorised and insured; government and related non-profit exempt entities must notify VARA, obtain a no-objection and meet the conditions set. Entities investing their own portfolio at or above USD 250 million in any rolling 30 days must register with VARA within three working days; technology providers and own-portfolio investors may register voluntarily; neither registration permits VA activities. Entities designated as critical service providers become subject to VARA's supervision.

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