Dubai Tightens Crypto Rules: Whale Disclosure Mandated
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- Dubai introduces crypto whale disclosure rules to boost market transparency and reduce manipulation.
- VARA strengthens market stability by requiring asset issuers and crypto service providers to disclose reserves.
- Dubai imposes strict regulations on memecoins, with penalties for non-compliance up to $135,000.
Dubai is tightening its crypto regulations, introducing new measures to increase transparency and combat market manipulation.
The move aimed at exposing the identities of major token holders, known as crypto whales, could set an example for other jurisdictions considering regulating the growing digital asset market.
Dubai Aims for Market Clarity & Reduced Manipulation Risks
Matthew White, CEO of the Virtual Assets Regulatory Authority (VARA), emphasized that these regulations improve market clarity and reduce manipulation risks.
In an interview, White revealed that VARA plans to introduce rules requiring Dubai crypto businesses to disclose major token holders’ ownership structures. These new regulations will focus on virtual asset service providers operating in the region and mandate detailed reporting of the ownership stakes of large holder…
The post Dubai Tightens Crypto Rules: Whale Disclosure Mandated appeared first on Coin Edition.
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