💡 The Virtual Assets Regulatory Authority (VARA) in Dubai has introduced new, stricter rules for advertising materials of cryptocurrency companies, effective from October 1, 2024. These rules are aimed at enhancing consumer protection and require all advertising materials for crypto investments to include a clear and prominent disclaimer warning about the associated risks.
🔹 New Advertising Requirements: According to the new regulations, companies promoting cryptocurrencies must include a warning that “virtual assets may lose their value in full or in part and are subject to high volatility.” This mandatory disclosure is intended to help consumers better understand the risks associated with investing in digital assets and avoid misleading information.
🔹 Ethical Standards and Information Accuracy: In addition to disclaimers, companies are required to provide accurate and transparent information in their promotional materials. Misleading or false statements are prohibited. Violations of these requirements could lead to severe penalties, including suspension or revocation of business licenses.
💬 Objective and Expectations of the Updates: VARA emphasizes that the new policy aims to improve transparency and enhance trust in the digital asset market. According to Matthew White, CEO of VARA, the new rules will help companies provide their services more responsibly and contribute to the sustainable growth of the sector.
🔗 Learn more at the VARA website: Dubai’s Virtual Assets Regulatory Authority (VARA)
