VARA Sets June 19 Deadline for Crypto Firms in Dubai

Dubai’s VIRTUAL Assets Regulatory Authority (VARA) has issued a final compliance ultimatum, requiring all virtual asset service providers to align with updated regulations by June 19. The Version 2.0 rulebooks introduce refined supervisory standards across seven core activities—from exchange operations to custody services—marking a significant step toward market standardization.

New controls specifically target margin trading and token distribution practices, aiming to enhance risk transparency. The framework clarifies collateral wallet arrangements while strengthening operational safeguards, reflecting VARA’s commitment to stabilizing Dubai’s digital asset ecosystem. "Regulation is the bridge between innovation and institutional adoption," the announcement implied without directly stating.