Sunday, January 29, 2023
BTC NOON
  • Home
  • News
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoins
  • BNB
  • DeFi
  • NFT
  • Luna Crash
  • Regulation
No Result
View All Result
BTC NOON
No Result
View All Result
Home Regulation

Dubai Sets Regulatory Guidlines on Crypto Marketing to Safeguard Investors (Report)

Artem Bogdanov by Artem Bogdanov
August 30, 2022
in Regulation
0
Dubai Sets Regulatory Guidlines on Crypto Marketing to Safeguard Investors (Report)
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Dubai’s Virtual Asset Regulatory Authority (VARA) reportedly instructed local cryptocurrency-related firms to require a license from the watchdog before advertising their products. The initiative could secure maximum protection for investors and limit the spread of misleading marketing campaigns focused on digital assets.

Over the past several months, Dubai has emerged as a global cryptocurrency center where numerous companies and leading players set foot. Sam Bankman-Fried’s spearheaded trading venue – FTX – established a regional headquarter in the city, while CryptoCom and OKX received licenses to offer services in the region.

Users’ Safety Is VARA’s Concern

The United Arab Emirates, and more specifically Dubai, have been making gradual steps toward the digital asset industry recently. In March this year, the country’s authorities created an independent agency to monitor the crypto sector, called the Virtual Asset Regulatory Authority (VARA).

“Our step is a leap towards the future aimed at developing this sector and protecting all investors in it,” Prime Minister Sheikh Mohammed bin Rashid Al Maktoum said at the time.

According to a coverage by Gulf News, the entity doubled down on its duties by introducing regulatory guidelines on firms that advertise crypto products and services, including search platforms, media sites, and online or offline publishing channels that urge people to dive into the ecosystem.

Such organizations now have to obtain a license from the VARA to ensure their operations are not harmful to investors.

“These regulations specifically address marketing and communications activities ahead of operationalizing the MVP licensees so that any mass-market information dissemination and consumer solicitation are designed to safeguard community interests,” the statement reads.

Dubai and Crypto

The examples of Dubai’s pro-crypto stance are numerous. Several months ago, the city’s authorities granted Binance and CryptoCom provisional licenses to operate their businesses in the area. For its part, FTX received a regulatory approval to establish a regional headquarter in Dubai.

In May, the UAE’s leading airline company – Emirates Airline – revealed intentions to introduce bitcoin as a payment method. COO Adel Ahmed Al-Redha said the company will also leverage blockchain technology to trace records of aircrafts.

Subsequently, the city hosted somewhat bizarre events in the crypto world. Three months ago, the French Florian Ughetto and the Paraguayan Liz Nunez got married in the Metaverse (the first such event for Dubai). The couple explained they wanted to gather all their friends and family for the wedding and the virtual reality was the only spot where this could have happened.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

RELATED POSTS

US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation – Regulation Bitcoin News

Americans want crypto regulations more than Marijuana regulations: Survey



Source link

Tags: CryptoDubaiGuidlinesinvestorsMarketingregulatoryReportSafeguardsets
ShareTweetPin
Artem Bogdanov

Artem Bogdanov

Related Posts

US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation – Regulation Bitcoin News

US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation – Regulation Bitcoin News

by Artem Bogdanov
January 29, 2023
0

The chairman of a newly formed digital assets committee, U.S. Congressman French Hill, has outlined some priorities to regulate the...

Americans want crypto regulations more than Marijuana regulations: Survey

Americans want crypto regulations more than Marijuana regulations: Survey

by Artem Bogdanov
January 29, 2023
0

The US has better regulations for Marjuana in comparison to cryptocurrencies, the Internet and social media. Recently, Harvard CAPS-Harris Poll...

Crypto banking hit as Custodia Bank Federal Reserve application denied

Crypto banking hit as Custodia Bank Federal Reserve application denied

by Artem Bogdanov
January 28, 2023
0

The Federal Reserve Board has denied a Wyoming cryptocurrency bank’s application for Federal Reserve System membership, officials announced Friday, dealing...

White House officials criticize Congress for not enacting crypto regulations

White House officials criticize Congress for not enacting crypto regulations

by Artem Bogdanov
January 28, 2023
0

Four senior White House officials posted a blog yesterday, criticizing Congress for failing to enact cryptocurrency regulations. However, crypto regulations...

Elon Musk Wants McDonald’s to Accept Dogecoin; Amazon to Launch NFT Initiative

Elon Musk Wants McDonald’s to Accept Dogecoin; Amazon to Launch NFT Initiative

by Artem Bogdanov
January 28, 2023
0

Tesla CEO Elon Musk has come out as a Dogecoin supporter again, expressing his love for the fast-food giant McDonald’s....

Next Post
A sceptic’s guide to crypto: NFT mania

A sceptic’s guide to crypto: NFT mania

Rugby player Siya Kolisi collaborates with Luno to launch new cryptocurrency campaign

Rugby player Siya Kolisi collaborates with Luno to launch new cryptocurrency campaign

RECOMMENDED

Paysafe gets Central Bank of Ireland license for cryptocurrency trading

Paysafe gets Central Bank of Ireland license for cryptocurrency trading

January 29, 2023
The Most Famous NFT Artists Around The World

The Most Famous NFT Artists Around The World

January 29, 2023

MOST VIEWED

  • Donald Trump’s NFT Card Collection Sells Out In Less Than A Day

    Donald Trump’s NFT Card Collection Sells Out In Less Than A Day

    0 shares
    Share 0 Tweet 0
  • Destiny 2: Season of the Seraph Warmind Node locations

    0 shares
    Share 0 Tweet 0
  • How Did Sam Bankman-Fried’s Alameda Research Lose So Much Money?

    0 shares
    Share 0 Tweet 0
  • Project Cedar: Improving Cross-Border Payments With Blockchain Technology

    0 shares
    Share 0 Tweet 0
  • Could USDT Crash Like Luna? Here’s 3 Safe Options

    0 shares
    Share 0 Tweet 0

Recent News

Paysafe gets Central Bank of Ireland license for cryptocurrency trading

Paysafe gets Central Bank of Ireland license for cryptocurrency trading

January 29, 2023
The Most Famous NFT Artists Around The World

The Most Famous NFT Artists Around The World

January 29, 2023
US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation – Regulation Bitcoin News

US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation – Regulation Bitcoin News

January 29, 2023

Category

  • Altcoin
  • Altcoins
  • Bitcoin
  • Blockchain
  • BNB
  • Business
  • DeFi
  • Ethereum
  • Luna Crash
  • Metaverse
  • News
  • NFT
  • Regulation

Follow Us

Find Via Tags

altcoin Altcoins analyst big Binance Bitcoin Blockchain BNB BTC buy Cardano Chain Coin Crash Crypto Cryptocurrency DeFi Digital dogecoin ETH Ethereum Exchange Eyes Finance FTX heres investors Launches Luna Market Merge News NFT NFTs Platform Prediction Price Protocol Regulation Solana Token Top Trading Week XRP

© 2021 BTC Noon

No Result
View All Result
  • Home
  • News
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoins
  • BNB
  • DeFi
  • NFT
  • Luna Crash
  • Regulation

© 2021 BTC Noon