The Dubai regulator, Virtual Assets Regulatory Authority (VARA), has implemented new rules to govern the cryptocurrency market in Dubai.
Under the updated Rulebook Version 2.1, VARA can now instruct licensed crypto firms to take immediate action during market stress, with the goal of reducing volatility and protecting investors.
The new regulations also restrict access to derivatives trading for retail investors, requiring them to meet stricter conditions before participating in regulated derivatives such as futures, options, and perpetual contracts.