Administrative Decision No. 3 of 2023 Concerning the Establishment of the Dubai Virtual Assets Regulatory Authority [‘VARA’] Grievance Committee

Pursuant to: 

- Dubai Law No. 4 of 2022 Regulating Virtual Assets in the Emirate of Dubai; and 

- VARA’s Virtual Assets and Related Activities Regulations 2023 and its amendments;

It is decided: 

Article 1 – Legislation

The term ‘Legislation’ used in this Decision shall mean Dubai Law No. 4 of 2022 Regulating Virtual Assets in the Emirate of Dubai, VARA’s Virtual Assets and Related Activities Regulations 2023, and all rules, regulations directives or decisions issued by VARA from time to time, as amended. 

Article 2 – Formation of the VARA Grievance Committee (the ‘Committee’)

The Committee is hereby formed to consider and determine all grievances submitted by the relevant parties in the virtual asset (VA) sector whether against the actions taken, or any penalties or sanctions imposed, in accordance with any of the Legislation, or related to the inspection(s) conducted by the VARA-authorised inspectors in their legal capacity, or generally based on the application of the relevant Legislation. 

Article 3 – Committee Membership

1. The Committee shall...