How Dubai's crypto rulebook is changing the game
TL:DR: Dubai's Virtual Assets Regulatory Authority (VARA) now mandates marketing rules that prioritise consumer safety and full transparency.
Only licensed
crypto
firms can promote to
UAE
audiences, including through foreign influencers.
The new regulations restrict risky tokens, flashy promises, and unclear disclosures.
Firms must archive all campaign material and influencer contracts for 8 years.
With heavy penalties and audit requirements, Dubai is transforming how crypto brands interact with the public.
A Global Crypto Capital in the Making
When Dubai first entered the crypto race, it wasn't the first to set up a regulatory framework but it quickly became the most deliberate.
In 2022, the city-state launched VARA, the world's first standalone crypto regulator. But unlike jurisdictions that handed out licenses freely, Dubai decided to build a foundation rooted in discipline, compliance, and clarity.
Fast forward to 2024, and the emirate has shifted its focus from just issuing licenses to controlling how virtual assets are marketed. It's a sign that Dubai no longer wants to be a crypto launchpad, it wants to be the benchmark. And that's where the new regulations come in.
Not Just About Ads: Why VARA's Rules Go Deeper
The typical crypto promotion we're all used to fast gains, bold language, coin drops is now under scrutiny in Dubai.
Starting October 2024, any marketing related to digital assets must follow a set of standards that's arguably more robust than what many financial regulators enforce for traditional investment products.
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Let's break that down:
Only VARA-authorised firms can create promotional material. This applies even if you're marketing from outside the UAE as long as your content reaches the local audience.
If an ad uses Arabic, includes Dubai-based influencers, or prices products in
AED
, it automatically falls under VARA's jurisdiction.
Risk disclosures are no longer optional footnotes. They need to be prominently visible.
Terms like 'guaranteed profits,' 'limited time,' and 'exclusive drops' are blacklisted.
Privacy coins and any tokens that hide transaction origins or identities are banned from being marketed entirely.
Dubai isn't cracking down to stifle innovation, it's creating trust. Dubai doesn't want to be another cautionary tale. It wants to be the example of how crypto can be regulated responsibly, and marketing is now central to that mission.
Building Guardrails Before Opening the Floodgates
In the past, crypto startups moved fast—launching with hype before building compliance structures. Now, the sequence is reversed.
Under VARA's new rules, even before a single post goes live, companies must:
Appoint legal and compliance teams to review campaigns.
Draft clear risk warnings for every asset or product.
Sign formal agreements with influencers, specifying disclosure terms.
Store everything from creative assets to social media screenshots for at least eight years.
This applies across media: Instagram stories, Twitter threads, blog posts, even offline events like meetups and expos.
Influencers: No Longer Off the Hook
One of the most talked-about sections of the regulation is how it treats influencers.
Until now, social media personalities promoting crypto didn't carry much liability. They posted glowing reviews and moved on. But under the new rulebook, any influencer targeting UAE users must:
Disclose paid partnerships upfront and not in hidden hashtags.
Ensure the company they're promoting is VARA-licensed.
Avoid discussing unlicensed tokens, especially those that hint at anonymity or volatility.
If they slip up? They could be fined, blacklisted from future collaborations, or even face legal proceedings.
A New Role for Events, Webinars, and
Content Creators
VARA's eye is also on events.
Any workshop, panel, or virtual masterclass held in or streamed to the UAE must:
Display the organising firm's license number publicly.
Avoid inviting participants to sign up for services during or immediately after the event.
Keep full attendance logs and discussion summaries for eight years, in case of an audit.
Dubai isn't just regulating advertising; it's setting standards for how crypto conversations happen.
What About the Tech Itself?
Interestingly, the new rules avoid overstepping into technology. Decentralised protocols, DApps, and blockchain networks are not blocked or controlled; only their promotion is.
This signals something subtle but powerful: Dubai is not against crypto.
It's against misleading communication about crypto.
The Real Impact: Why This Matters Globally
Dubai's updated marketing code will affect not just regional startups, but global brands.
If a U.S.-based exchange wants to promote a token using a UAE influencer even if that ad only lives online it must comply with VARA's rulebook. The same applies to DeFi projects, NFT platforms, and staking services.
Dubai is saying: if you want to do business here, play by our rules.
And many firms are already doing so because access to the UAE market and its rising crypto adoption is too valuable to risk.
What's Still Unclear
Despite the progress, some grey areas remain:
Will VARA audit all historical influencer content retroactively?
How will enforcement work for content hosted outside Dubai but accessible from here?
Will UAE residents using VPNs or foreign platforms trigger enforcement?
For now, firms are advised to err on the side of caution and seek legal consultation.
FAQs
Q. Can a foreign firm promote crypto to UAE users via an international campaign?
Only if it partners with a VARA-licensed entity or seeks direct approval. Otherwise, it's considered a violation.
Q. Are NFTs and blockchain gaming subject to the same rules?
Yes, if they involve asset transfer, reward mechanisms, or financial incentives, they must follow the marketing code.
Q. Do these rules apply to personal blogs and educational content?
If there's no promotional angle and no affiliate links, they may be exempt. But the line is thin, any encouragement to invest or sign up could trigger enforcement.
Q. Are these rules permanent?
No. VARA reviews and updates its rulebooks annually based on risk assessments and global regulatory benchmarks.
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