Dubai authorities issue meme coin warning... 'Most have no intrinsic value'
YM Lee
Summary
- Dubai's Virtual Assets Regulatory Authority warned investors that meme coins are speculative and highly volatile.
- VARA stated that most meme coins have no intrinsic value and their prices can rise through social media and excessive promotion.
- Investors were emphasized to keep in mind that these could become targets of market manipulation.
Dubai's Virtual Assets Regulatory Authority (VARA) has issued an investor warning about meme coins.
According to CryptoNews on the 14th (local time), Dubai's VARA stated that 'meme coins are highly speculative and volatile assets that often become targets of market manipulation. Most of them have no intrinsic value and their prices are driven by social media trends, exaggerated advertising, and promotion.'
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
