The Dubai Virtual Assets Regulatory Authority ("VARA") was established and authorised by Dubai Law No.4 of 2022 Regulating Virtual Assets in the Emirate of Dubai ("Dubai VA Law") to regulate Virtual Asset Service Providers ("VASPs").
This Advisory Services Rulebook is issued pursuant to, and forms part of, the Virtual Assets and Related Activities Regulations 2023
, as may be amended from time to time ("Regulations"), issued by VARA, and applies to all VASPs Licensed by VARA to carry out Advisory Services in the Emirate.
This Advisory Services Rulebook applies in addition to all other requirements in the Regulations as may be in force from time to time. As such, VASPs Licensed by VARA to carry out Advisory Services must also comply with the following Rulebooks applicable to all VASPs—
1. Company Rulebook ;
2. Compliance and Risk Management Rulebook;
3. Technology and Information Rulebook;
4. Market Conduct Rulebook; and
5. All Rulebooks specific to the VA Activities that a VASP is Licensed by VARA to carry out.
For the avoidance of doubt, where a VASP is Licensed by VARA to carry out other VA Activities in the Em...