Dubai is included in the list of the largest cities in Asia, where comfortable conditions are created for the work of crypto companies. The authorities of the metropolis this week introduced new rules for posting content that promotes investments in digital currencies.
The author of the amendments to the legislation was the Dubai Virtual Assets Regulatory Authority (VARA). The regulator’s ruling states that the Internet and the Dubai media have become the main platforms for promoting crypto investments.
At the same time, the advertising material must contain information about the risks of investing in cryptocurrencies and about the responsibility that investors themselves bear. According to the authorities, such a requirement will protect retail consumers.
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Only those companies that have received licenses from the authorities and have been included in a special register have the right to publish advertising content.
The Dubai Virtual Assets Regulatory Authority was established in March 2022. This agency is engaged in licensing blockchain startups and exchanges within separate economic zones created to stimulate the growth of the industry.