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Dubai Issues Latest Guidelines for Token Issuance Including RWA and Stablecoins
Svmuu News: The Dubai Virtual Assets Regulatory Authority (VARA) has released detailed guidelines clarifying the structuring, disclosure, and distribution norms for token issuers within the emirate. The document provides interpretation for VARA's existing Virtual Asset Issuance Rulebook, categorizing token issuance into three types: The first category covers fiat-referenced virtual assets and asset-referenced virtual assets; the second category must be distributed through intermediaries licensed by VARA; and the third category comprises exempt virtual assets with limited functionality. Ruben Bombardi, General Counsel of VARA, stated that this framework aims to provide market participants with a more targeted regulatory pathway and legal clarity by enhancing transparency regarding asset characteristics and risks.
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