Dubai Issues Detailed Guidance on RWAs, Stablecoins to Sharpen Regulatory Clarity
Summary
- Dubai’s Virtual Assets Regulatory Authority (VARA) said it has strengthened regulatory clarity for real-world assets (RWA) and stablecoins.
- VARA said its detailed guidance on virtual asset disclosure and distribution sets out three issuance routes for virtual assets and specifies the responsible parties under each.
- The regulator said the new guidance is intended to provide a more tailored approach and practical clarity for virtual asset issuers and market participants.
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Dubai authorities have moved to strengthen regulatory clarity for real-world assets, or RWAs, and stablecoins.
Cointelegraph reported on April 9 that Dubai’s Virtual Assets Regulatory Authority, or VARA, issued detailed guidance on virtual asset disclosure and distribution. The guidance interprets VARA’s existing rules on virtual asset issuance, sets out three issuance routes and specifies responsibility under each route.
VARA broadly classifies virtual assets into three categories: fiat-referenced virtual assets, virtual assets issued through licensed intermediaries, and exempt assets with limited functionality. Cointelegraph said the guidance further reinforces Dubai’s push to build a dedicated regulatory framework for virtual assets.
VARA said the guidance is intended to give virtual asset issuers greater clarity. Ruben Bombardi, a legal adviser at VARA, told Cointelegraph the detailed guidance reflects a more tailored approach to virtual asset issuance and aims to provide practical clarity for market participants.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
