The digital asset regulator in Dubai will adopt stricter requirements for firms that are marketing crypto investments in the country.
Companies promoting digital asset investments in Dubai should add a disclaimer to what they are promoting, as announced by VARA in a press release.
The disclaimer must clearly display stating that, "virtual assets may lose their value in full or in part and are subject to extreme volatility., according to crypto regulator.
Matthew White, CEO of VARA stated that providing clear and actionable guidance can help virtual asset service providers "deliver their services responsibly".
Additionally, compliance confirmation within the country must also be received by the firms offering incentives for digital assets or related products. By doing this, it is ensured that investors are not being deceived into undervaluing the risks associated with their possible investments due to the incentives.
UAE ranks 3rd in the crypto adoption index, according to a study conducted by an investment migration consultancy firm. Many of the population in UAE own crypto, the study also noted.
Image source: Gulf News
