This document, issued by Dubai's Virtual Assets Regulatory Authority (VARA), outlines the rules for Virtual Asset (VA) Transfer and Settlement Services. It applies to all Virtual Asset Service Providers (VASPs) licensed by VARA to conduct these services in or from Dubai. The rulebook supplements existing regulations and other VARA rulebooks applicable to all VASPs.
Key requirements
- VASPs must establish policies and procedures for VA transfer and settlement services.
- VASPs must provide public disclosures related to their VA transfer and settlement services.
- VASPs must ensure the protection of client Virtual Assets and property interests.
- VASPs must obtain authorization and ensure responsibility for transmissions, transfers, and settlements.
- VASPs must provide client disclosures related to VA transfer and settlement services.
Applies to: VASPs licensed by VARA to carry out VA Transfer and Settlement Services in and/or from the Emirate of Dubai