迪拜的VARA更新许可加密公司的监管指南

迪拜虚拟资产监管机构（VARA）已针对有执照的加密公司发布了更新的监管指南。

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.

迪拜的虚拟资产监管机构（VARA）已针对有执照的加密公司发布了更新的监管指南，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.

监管机构于5月19日宣布发布基于活动的规则手册的2.0版，并引入了更好的控制，以增强市场完整性和风险监督。修订后的框架加深了有关保证金交易和代币分销服务的法规，以及所有许可活动的合规要求。

"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在公告中说：“根据全球监管最佳实践，已经为所有受影响的虚拟资产服务提供商授予了30天的过渡期，并需要在2025年6月19日之前进行全面遵守。”监管团队成员将在过渡期间直接与许可实体合作，以允许实施更新的规则。

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.

更新的框架涵盖了八项受监管的活动 - 咨询，经纪交易商，监护权，交易，贷款和借贷，虚拟资产管理和投资，虚拟资产转移和和解服务以及虚拟资产发行 - 均由更新的框架涵盖。

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.

这些修订还使风险管理和披露义务保持一致，活动重叠，尤其是经纪，监护和交换服务。这种一致性旨在消除对以前对跨多个服务类别运营的公司构成合规性挑战的矛盾要求。

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.

更新的规则手册中的一个关键重点领域是保证金交易，瓦拉收紧了杠杆阈值，要求更清晰的抵押标准以及增强的监控义务，以提供保证金交易服务。这些措施与有关加密货币市场过度杠杆作用的全球监管机构实施的类似限制，从而造成了系统性的风险。

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."

更新的框架介绍了有关令牌分布的专用部分，该部分为加密代币产品建立了许可先决条件，投资者保护措施和营销限制。 VARA发言人强调了新的营销限制，尤其是对于“面向零售优惠”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.

这表明监管机构正在采取措施，以保护不太成熟的投资者免受高风险令牌产品的影响。迪拜继续将自己定位为领先的加密枢纽，同时实施越来越全面的法规。