迪拜的VARA更新許可加密公司的監管指南

迪拜虛擬資產監管機構（VARA）已針對有執照的加密公司發布了更新的監管指南。

Dubai's Virtual Assets Regulatory Authority (VARA) has issued updated regulatory guidelines for licensed crypto companies, granting firms until June 19 to comply with the new requirements.

迪拜的虛擬資產監管機構（VARA）已針對有執照的加密公司發布了更新的監管指南，授予公司直到6月19日，以遵守新要求。

The regulator announced the release of Version 2.0 of its activity-based Rulebooks on May 19, introducing better controls to enhance market integrity and risk oversight. The revised framework deepens regulations around margin trading and token distribution services, and also compliance requirements across all licensed activities.

監管機構於5月19日宣布發布基於活動的規則手冊的2.0版，並引入了更好的控制，以增強市場完整性和風險監督。修訂後的框架加深了有關保證金交易和代幣分銷服務的法規，以及所有許可活動的合規要求。

"In line with global regulatory best practices, a 30-day transition period has been granted to all impacted virtual asset service providers, with full compliance required by 19 June 2025," stated VARA in its announcement. Regulatory team members will be working directly with licensed entities during the transition period to allow implementation of the updated rules.

Vara在公告中說：“根據全球監管最佳實踐，已經為所有受影響的虛擬資產服務提供商授予了30天的過渡期，並需要在2025年6月19日之前進行全面遵守。”監管團隊成員將在過渡期間直接與許可實體合作，以允許實施更新的規則。

The eight regulated activities - advisory, broker-dealer, custody, exchange, lending and borrowing, virtual asset management and investment, virtual asset transfer and settlement services, and virtual asset issuance - are all covered by the updated framework.

更新的框架涵蓋了八項受監管的活動 - 諮詢，經紀交易商，監護權，交易，貸款和借貸，虛擬資產管理和投資，虛擬資產轉移和和解服務以及虛擬資產發行 - 均由更新的框架涵蓋。

The revisions also align risk management and disclosure obligations where activities overlap, especially in brokerage, custody, and exchange services. This alignment aims to remove contradictory requirements that previously created compliance challenges for firms operating across multiple service categories.

這些修訂還使風險管理和披露義務保持一致，活動重疊，尤其是經紀，監護和交換服務。這種一致性旨在消除對以前對跨多個服務類別運營的公司構成合規性挑戰的矛盾要求。

One key focus area in the updated rulebooks is margin trading, where VARA has tightened leverage thresholds, mandated clearer collateralization standards, and enhanced monitoring obligations for VASPs offering margin trading services. These measures align with similar restrictions implemented by global regulators concerned about excessive leverage in cryptocurrency markets, creating systemic risks.

更新的規則手冊中的一個關鍵重點領域是保證金交易，瓦拉收緊了槓桿閾值，要求更清晰的抵押標準以及增強的監控義務，以提供保證金交易服務。這些措施與有關加密貨幣市場過度槓桿作用的全球監管機構實施的類似限制，從而造成了系統性的風險。

The updated framework introduces a dedicated section on token distribution that establishes licensing prerequisites, investor protection measures, and marketing restrictions for crypto token offerings. The VARA spokesperson highlighted new marketing restrictions, especially for "retail-facing offers."

更新的框架介紹了有關令牌分佈的專用部分，該部分為加密代幣產品建立了許可先決條件，投資者保護措施和營銷限制。 VARA發言人強調了新的營銷限制，尤其是對於“面向零售優惠”的限制。

This suggests the regulator is taking steps to shield less sophisticated investors from high-risk token offerings. Dubai continues to position itself as a leading crypto hub and, at the same time, implement increasingly comprehensive regulations.

這表明監管機構正在採取措施，以保護不太成熟的投資者免受高風險令牌產品的影響。迪拜繼續將自己定位為領先的加密樞紐，同時實施越來越全面的法規。