Dubai Vara adds Leverage Controls to Crypto Margin Trading Trading Trading Rulebook
Dubai’s Crypto Regulator Virtual Asset Regulatory Authority (VARA) has updated its rulebook for digital asset trading.
The Emirati regulator has introduced more leverage controls and collateralization requirements through broker-deal provisions and exchange rules. This will help vara policies to align the global risk standards, the regulator said in an email announcement on Monday.
Vara also introduced sections of its rulebook to properly manage the areas of the crypto industry that were previously controlled, such as broker-dealers and wallets.
The rules previously laid by Vara have helped to promote the city as a crypto hub, winning praise from crypto companies for reasonably clearly in their requirements to operate there. Basic exchanges such as Binance, Crypto.com and OKX have all won approval under the vara.
Vara is now taking these policies and upgrading them to show a more mature framework it says incorporates real-world licensing experience and international best skills.
“The updates of this rulebook strengthen the foundations of a responsible, measured ecosystem,” Ruben Bombardi said, General advice and head of enabling vara regulation, said an email comment shared with CoinDesk.
Read more: The Dubai government opens the crypto reception door for service fees
