Latest news with #VirtualAssetsRegulatoryAuthority
Yahoo
28-07-2025
- Business
- Yahoo
OKX Introduces Regulated Crypto Derivatives for Retail Traders in UAE
OKX says it is the first global crypto exchange to launch regulated derivatives products for retail traders in the United Arab Emirates (UAE), offering access to futures, perpetual contracts, and options with up to 5x leverage. The launch falls under the Virtual Assets Regulatory Authority (VARA)'s pilot framework, which allows select platforms to test innovative financial products in a controlled environment. OKX's new offering opens tools previously available only to professional traders, giving retail participants ways to hedge, speculate, or diversify strategies in volatile market conditions. 'This is a pivotal moment,' said Rifad Mahasneh, CEO of OKX MENA in a statement. 'Retail investors in the UAE have asked for more robust tools, and we're delivering that within a regulated framework designed to protect them.' Crypto derivatives have become a hot area of focus with big exchanges buying up derivatives platforms and a number of new offerings coming to market. OKX has also introduced educational materials and Arabic-language support aimed at improving investor literacy around leverage and derivatives, according to a press release. The launch underscores Dubai's growing appeal as a global crypto hub, driven by clear regulations and infrastructure aimed at balancing innovation with investor protection. Since entering the UAE market, OKX has partnered with regional Web3 projects and worked alongside regulators to shape policy. The exchange's expansion marks a shift in access, allowing retail users to participate in markets once reserved for institutional players. Sign in to access your portfolio
Hi Dubai
14-07-2025
- Business
- Hi Dubai
Dubai's Virtual Assets Regulatory Authority Issues 36 Licences as Virtual Asset Sector Expands
Dubai's Virtual Assets Regulatory Authority (VARA) has granted 36 full licences to entities in the digital asset sector, marking a major step in the city's bid to become a global hub for virtual finance and innovation. According to VARA CEO Matthew White, several hundred more firms are currently navigating the licensing process, with applications continuing to arrive from international players eager to enter the Dubai market. The ecosystem now spans over 400 registered entities involved in blockchain services, proprietary trading, and related fields. White highlighted a groundbreaking partnership between VARA and the Dubai Land Department that enables fractional ownership of real estate through tokenised assets. This initiative, launched in early 2025, has already attracted 300 investors—70% of whom are first-time property owners in Dubai—via the successful listing of two properties. Looking ahead, VARA plans to expand tokenised real estate offerings to trading platforms, enhancing accessibility and liquidity. The Authority is also piloting projects in tokenised gold and decentralised finance (DeFi), signalling further integration of digital alternatives into mainstream finance. Established in 2022, VARA plays a central role in advancing the Dubai Economic Agenda D33 by fostering innovation, ensuring investor protection, and building a regulatory environment that supports the growth of the digital economy. White reaffirmed VARA's commitment to enforcement and oversight, noting the use of data-driven supervision tools, detailed marketing guidelines, and proactive measures against unauthorised activity. The Authority works closely with other UAE regulators to ensure market integrity and consumer trust. News Source: Emirates News Agency
Business Upturn
11-07-2025
- Business
- Business Upturn
OFZA Appoints Amir Tabch as CEO to Lead Next Phase of Regulated Growth
Dubai, UAE, July 11, 2025 (GLOBE NEWSWIRE) — OFZA , the UAE-born, regulator-aligned cryptocurrency exchange, has appointed Amir Tabch as Chief Executive Officer to lead OFZA through its next stage of growth and market activation. This leadership milestone reflects OFZA's deepening commitment to building the most trusted crypto exchange in the region—one that's designed from day one to align with regulations, empower users, and scale without shortcuts. A seasoned executive with over 20 years of experience across large regulated financial institutions, digital-led startups, and crypto-native platforms, Tabch brings the kind of strategic leadership that matches OFZA's mission: to make digital asset trading safe, simple, and accessible for everyone. ' OFZA isn't here to be the biggest. We're here to be the most trusted,' said Tabch. 'That means regulatory-first principles, real operational substance, and a platform that puts both retail and institutional users first.' Fully licensed by Dubai's Virtual Assets Regulatory Authority (VARA), OFZA is authorized to provide Broker-Dealer Services, Exchange Services, Management and Investment Services, and Advisory Services. The platform is built with local governance, regulatory clarity, and security-first architecture designed for long-term credibility. The firm's mission is to empower and educate individuals and businesses to take control of their financial future by simplifying crypto trading and removing barriers to entry. OFZA combines a secure, regulated infrastructure with an intuitive user experience and practical tools, making digital asset trading safe, simple, and accessible. With Tabch at the helm, OFZA is not just announcing a new CEO—it's signaling the rise of a new kind of crypto exchange: born regulated, built for trust, and ready to scale responsibly. About OFZA Headquartered in Dubai, OFZA is a full-service, VARA-regulated Virtual Asset Service Provider (VASP) that allows traders to buy, sell, and trade a wide range of digital assets. By providing a cohesive platform of innovative technology, robust security measures, and a customer-first approach, OFZA is poised to disrupt the trading experience in the Middle East region. For more information, visit . Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Express Tribune
10-07-2025
- Business
- Express Tribune
Ordinance issued to regulate virtual assets
The president on Thursday issued an ordinance to establish a Virtual Assets Regulatory Authority (Vara) to regulate the services related to virtual assets in the country with a view to prevent money laundering and terrorist financing. President Asif Zardari signed the Virtual Assets Regulatory Authority Ordinance 2025, which would come into force immediately all over the country. The head office of the authority would be in Islamabad, but its regional offices could be established anywhere. The ordinance says that the Vara will have the status of a corporate body, hence, it will be able to hold property, makes purchases and sales and enter into contracts. according to the ordinance, it will also be able to file cases, according to the ordinance. Vara is empowered to issue, suspend or revoke licences for virtual assets and service providers; make regulations for the supervision and regulation of virtual assets; take steps to prevent money laundering and terrorist financing, with powers of investigation, disciplinary action and imposing fines. According the ordinance, a board will run the affairs of Vara. The board would have a chairman of the board and two members from the Finance Ministry and the Law Ministry. It could include more members as advisers. The term of office of the chairman and non-official members will be three years. The ordinance says that no person would provide services related to virtual assets without a licence issued by Vara. It adds that fine could be imposed if someone found offering those services without a licence.
Time of India
09-07-2025
- Business
- Time of India
How Dubai's crypto rulebook is changing the game
Dubai's new VARA marketing rules aim to eliminate misleading crypto promotions and build trust in the virtual asset space/Image: File 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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why seniors are rushing to get this Internet box – here's why! Techno Mag Learn More Undo 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.
