- A VARA spokesman said that updates will draw consistency on all activity -based regulations, and clarify the basic operational conditions.
- Vara mentioned that the focus was on suppressing mystery and helping VASPS to move in multi -functional compliance quickly.
Dubai’s encryption organizer gave a final date on June 19 to the various digital asset companies to comply with the writings of the updated activity to increase the safety of the market as well as oversee risk.
The Virtual Assets Regulatory Authority in Dubai (VARA) was published on May 19 that it was launched Version 2.0 He wrote rules. The organizer also stated that he has intensified controls around marginal distribution services and a distinctive symbol.
Also, it has coordinated compliance needs on all licensing activities and a clearer definition of side wallet arrangements. VARA is speculating that companies will agree to the updated bases after a period of 30 days.
The organizer also stated that, according to the best global organizational practices, the 30 -day transition period was provided to all apparent asset service providers to complete their full compliance by June 19, 2025.
Risk management played a decisive role
Fabrication The supervisory mechanism enhanced the various activities of organized by them. The consulting mechanism, mediator, custody, exchange, lending and borrowing, management and investment of virtual assets, as well as VA transfer and settlement services.
A VARA spokesman said that updates will draw consistency on all activity -based regulations, and clarify the basic operational conditions. He also used examples of terms such as customer’s origins, qualified and side -by -side designs, and he said that these are some terms that have been used more consistently in the update.
The update also lined up with risk management and detection obligations. Vara mentioned that the focus was on suppressing mystery and helping VASPS to move in multi -functional compliance quickly.
When talking about margin circulation, the spokesperson stated that they have strengthened the leverage threshold, and they require clearer guarantees, and to intensify the observation obligations of the VASPS that provides this feature.
Margin trading allows merchants to have major positions with a small amount of money, and enhance both gains and losses. Also, the enhancement of aid travelers is used to restrict the risk of widespread filters in the market decline.
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