ARTICLE · 18 JUNE 2024

Dubai's VARA Crypto Trading License: Everything You Need To Know

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Dubai's Virtual Assets Regulatory Authority (VARA) is the specialist regulator for crypto assets in Dubai. It oversees both regulated Virtual Asset Service Provider (VASP)...

United Arab EmiratesTechnology

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Background

Dubai's Virtual Assets Regulatory Authority (VARA) is the specialist regulator for crypto assets in Dubai. It oversees both regulated Virtual Asset Service Provider (VASP) licenses and non-regulated licenses for proprietary traders of crypto assets. VARA ensures that firms engaging in virtual asset-related services comply with stringent regulatory standards to promote a secure and transparent digital asset market.

Dubai Crypto Trading License

Freezone Licensing

Several Dubai freezones, including the Dubai Multi Commodities Centre (DMCC), Dubai World Trade Centre (DWTC), and International Free Zone Authority (IFZA), offer proprietary trading licenses for crypto commodities. These licenses allow companies to invest in and trade their own portfolios of crypto assets. However, the scope of this license is specific and includes the following provisions:

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