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Dubai’s VARA Warns of Firms Falsely Claiming to Be Part of Real Estate Tokenization Pilot
Dubai’s VARA Warns of Firms Falsely Claiming to Be Part of Real Estate Tokenization Pilot
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Dubai’s Virtual Assets Regulatory Authority (VARA) has issued a public alert regarding entities misrepresenting their involvement in the city’s blockchain-based real estate tokenization pilot. The initiative, launched on March 19 by the Dubai Land Department (DLD), is a limited pilot program with strict participation criteria.
VARA explicitly stated that no unauthorized firms are permitted to promote association with the project. Misleading claims could violate Dubai’s virtual asset laws, though the regulator declined to identify specific offenders. The warning underscores growing scrutiny as Dubai positions itself as a hub for tokenized assets.
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