Dubai's crypto regulator releases updated guidelines including provisions on real-world asset (RWA) tokenization

On May 19, Dubai's Virtual Asset Regulatory Authority (VARA) released its updated Rulebook for virtual asset service providers (VASPs) operating in the region.

"[Issuing real-world asset tokens and listing them on secondary markets is no longer theoretical. It’s now a regulatory reality in Dubai and the broader UAE.

Issuing real-world asset tokens and listing them on secondary markets has become a hot topic in the past year. However, despite the interest, no new tokens have yet been listed due to the lack of clear regulatory frameworks.

But in a significant development, Dubai’s crypto regulator has updated its guidelines to include provisions on real-world asset tokenization and clarify rules for issuers operating in the region.

Members of the Virtual Asset Regulatory Authority (VARA) have approved updates to its Rulebook for virtual asset service providers operating in the emirate.

The regulator, which is part of the broader crypto hub in the United Arab Emirates, said on Friday that market participants will have until June 19 to comply with the new rules.

VARA previously told Cointelegraph it had enhanced supervisory mechanisms and brought consistency across activity-based rules. One of the more prominent changes includes regulatory clarity on real-world asset tokens.

“Issuing real-world asset tokens and listing them on secondary markets is no longer theoretical,” said Irina Heaver, partner at the UAE-based law firm NeosLegal. “It’s now a regulatory reality in Dubai and the broader UAE.”

A ‘viable’ path to realize RWA hype

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