Dubai is included in the list of the largest cities in Asia, where favorable conditions have been created for the operation of crypto companies. This week, the city government introduced new rules for posting content that promotes investments in digital currencies.
The amendments to this law were drafted by the Dubai Virtual Assets Regulatory Authority (VARA). The rule of the regulator states that the Internet and Dubai media have become the main platform to promote crypto investments.
At the same time, advertising materials must contain information about the risks of investing in cryptocurrencies and the responsibilities that investors bear. Such a requirement will protect retail consumers, officials said.
Only companies that have obtained the necessary permits from the authorities and are registered in a special register are allowed to post advertising content.
In March 2022, the Dubai Virtual Assets Regulatory Authority was established. The company participates in the licensing of blockchain startups and exchanges in separate economic zones created to stimulate the development of the industry.
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