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Dubai Tightens Regulations On Crypto Marketing

Dubai's Virtual Assets Regulatory Authority (VARA) has announced new, stricter marketing guidelines for virtual assets. 

By Akriti Seth

Last Updated: Sep 26, 2024

Fact checked

By Sam Cooling

Crypto dubai

Dubai’s Virtual Assets Regulatory Authority (VARA) announced new, stricter crypto marketing guidelines for virtual assets on 26 September 2024.

The new regulations are set to take effect on 1 October 2024. They aim to address the inherent risks associated with crypto investments by mandating clearer communication from firms involved in the promotion of these digital assets.

EXPLORE: This Week In Crypto Asia: Dubai Court Says Salary Can Be Paid In Crypto

Dubai Insists On Prominent Disclaimers For Crypto 

The updated guidelines require companies marketing virtual assets in the UAE to include a prominent disclaimer in their promotional materials. 

This disclaimer must clearly state that “virtual assets may lose their value in full or in part and are subject to extreme volatility.” 

By enforcing such disclosures, VARA intends to ensure that potential investors are fully aware of the risks before making investment decisions.

Furthermore, this regulatory update reflects a growing trend among global financial hubs to implement more rigorous standards for the burgeoning cryptocurrency market. 

As digital currencies continue to gain popularity, regulators worldwide are grappling with how best to protect consumers while fostering innovation.

Marketing Campaigns Will Need To Strike A Balance

For companies operating within Dubai’s vibrant crypto ecosystem, these new rules necessitate a strategic shift in how they communicate with potential investors. 

Meanwhile, marketing campaigns will need to balance the allure of high returns with honest disclosures about the volatility and risks inherent in crypto investments.

Also, Firms may need to invest in compliance training and revamp their marketing strategies to align with the new regulations. 

This could involve redesigning advertisements, revising digital content, and ensuring that all promotional materials prominently feature the required disclaimers.

EXPLORE: Crypto.com Partners With Standard Chartered To Launch Global Retail Services From Dubai 

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

 

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Disclaimer
Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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Akriti Seth
Akriti Seth
Editor

Akriti Seth is a Zurich-based Business Journalist and Crypto Editor. Her passion for journalism has taken her across the globe – from thriving as an on-television correspondent to writing engaging articles, she has worked for companies like Informa UK, Bloomberg... Read More

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