Dubai’s Virtual Asset Regulatory Authority (VARA) has issued guidelines for cryptocurrency firms to follow before marketing and advertising their products in the region.
VARA asserted that these guidelines must be adhered to before any digital asset is promoted on Dubai-based media sites and publishing channels.
According to reports, “these regulations specifically address marketing and communications activities, ahead of operationalising the MVP licensees so that any mass-market information dissemination, and consumer solicitation are designed to safeguard community interests.”
The Minimum Viable Product (MVP) Phase has recently begun in Dubai, and these guidelines are intended to reduce the probability of marketing activities misinforming residents. It wishes to ensure that the facts are stated in every advertisement produced by a media company based in Dubai.
One of VARA’s action plans is to promote economic opportunities to residents while ensuring that their money is not stolen. According to VARA regulations, the guidelines will cover “marketing, advertising, and promotions of VA cover all forms of outreach, communication, and advertising, including publication of information, awareness building, customer engagement, and/or investor solicitation.”
The rules will also cover “VA-related communications by any entity leveraging Dubai-based media sites, search platforms, and online or offline publishing channels that explicitly target customers within the Dubai market, establishing guardrails on permissible audience segments, in addition to content obligations.”
If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
