The Dubai government has strengthened its oversight powers in the virtual asset space by updating its Rulebook Version 2.1.
Under this update, VARA can instruct licensed Virtual Asset Service Providers (VASPs) to take immediate action during market stress without prior notice, aiming to minimize volatility and protect investors.
The new regulations also grant retail traders access to regulated crypto derivatives such as futures, options, and perpetual contracts, but with strict conditions in place to prevent excessive risk-taking.