According to PANews, the Dubai Virtual Assets Regulatory Authority (VARA) has revised its digital asset trading rulebook, as reported by CoinDesk. The new regulations focus on strengthening leverage controls and collateral requirements for margin trading, with significant amendments made to the Broker-Dealer and Exchange Rulebook. This update aims to align the regulatory framework with international risk standards and address previous regulatory gaps concerning brokers and wallet service providers.
VARA stated that the revisions are based on practical licensing experience and international best practices, contributing to the development of a more mature regulatory system. Ruben Bombardi, VARA's Chief Legal Officer, emphasized that these updates reinforce the foundation of a "responsible and scalable ecosystem." The authority's previously clear regulatory requirements have already positioned Dubai as a hub for cryptocurrency activities.