VARA (Virtual Assets Regulatory Authority)

VARA is Dubai's dedicated regulator for virtual assets — the world's first standalone crypto authority, established by Dubai law in 2022. It licenses and supervises exchanges, brokers, custodians, advisory firms and other virtual asset service providers operating in Dubai outside the DIFC (where the DFSA regulates instead). VARA's rulebooks cover everything from custody standards and market conduct to marketing: advertising crypto services to the Dubai public without VARA authorisation is itself a violation. The authority has attracted major global exchanges to license in Dubai while also issuing fines against unlicensed operators. Crypto businesses meet VARA at licensing; investors should meet it when verifying a platform is authorised before depositing funds. Lawyers advise on VARA licence categories, marketing compliance, enforcement responses, and the boundary between VARA, SCA and DFSA jurisdiction.