Dubai Virtual Assets Law: Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai
Law No. (4) of 2022 is Dubai's primary virtual assets statute, applied by VARA, the Virtual Assets Regulatory Authority. It covers virtual asset activities across Dubai except the DIFC, and it requires a VARA Permit before a provider can operate a platform, exchange crypto or fiat, hold custody, offer wallets, settle transfers or run a token offering.
At a glance
| Official title | قانون رقم (4) لسنة 2022 بشأن تنظيم الأصول الافتراضية في إمارة دبي1 |
|---|---|
| English title | Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai |
| Citation | Law No. (4) of 2022 |
| Jurisdiction | Dubai (VARA) |
| Type | act |
| Adopted | 2022-02-28 |
| In force from | 2022-03-11 |
| Status | in force |
Full text
Official full text: Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai (PDF, en)2 · 396 KB · file checked 2026-09-24
Official page: rulebooks.vara.ae2 · Official English translation: rulebooks.vara.ae2
Summary
Law No. (4) of 2022 is Dubai's core virtual assets statute. It reaches mainland Dubai and the free zones, though the Dubai International Financial Centre (DIFC) sits outside it, and VARA, an autonomous body under the Dubai World Trade Centre Authority, enforces it. Anyone offering a virtual asset activity needs a VARA Permit first. The commercial licence and the start of operations both wait on that approval. The regulated activities are wide, covering platform operation, crypto-to-fiat and crypto-to-crypto exchange, transfers, custody and safekeeping, wallets, and token offerings. A licensed firm keeps a real Dubai presence, clears any permit assignment with VARA in advance, follows the anti-money laundering rules, guards client personal data and meets the market integrity standards. VARA can inspect premises, halt trading, fine a firm, or pull its permit.
Summary written by the Atlas from the official text; the law itself prevails.
Main articles
- Art. 3: Sets the scope as every virtual asset activity in mainland Dubai and the free zones, but not the DIFC.
- Art. 4: Creates VARA itself, an autonomous public corporation sitting under the Dubai World Trade Centre Authority.
- Art. 6: Gives VARA its core powers, licensing providers, regulating token issuance, supervising platforms and countering price manipulation. It also collects fees and coordinates with the UAE Central Bank.
- Art. 10: Employees must disclose their own and their family's virtual asset holdings, and the duty of confidentiality over market and participant data never lapses.
- Art. 13: VARA itself cannot issue, own or trade virtual assets, and any activity involving a conflict of interest is barred outright.
- Art. 15: No virtual asset activity without a VARA Permit. Firms need a Dubai incorporation and VARA's prior approval before they can even seek a commercial licence.
- Art. 16: Lists the seven permit activities, platform operation, fiat-crypto and crypto-crypto exchange, transfers, custody and safekeeping, wallet services, and token trading.
- Art. 17: A VARA Permit cannot be transferred or assigned without approval first. Do it anyway and the assignment is void.
- Art. 18: Lets VARA pull the brakes when the public interest calls for it, stopping new permits, halting a provider, or suspending trading and issuance altogether.
- Art. 19: Leaves regulatory fees, service charges and commissions for VARA to set to the Board of Directors.
- Art. 20: Violations carry administrative penalties, fines among them, permit suspension of up to six months, or revocation paired with cancellation of the commercial licence.
- Art. 21: VARA's designated inspectors carry real enforcement power, entering premises, examining records, writing up violations and calling in the police when needed.
- Art. 22: A firm gets 30 days to contest a decision before the Director General; a committee then has to close it out within 15 days.
- Art. 26: VARA's own implementing regulations, once published on its website, carry the same binding force as Official Gazette legislation.
- Art. 28: Requires publication in the Official Gazette; the law enters into force the moment that happens.
Licences it governs
- VASP · Dubai (VARA)
Virtual Asset Advisory Services Licence
VARA · capital AED 100,000
- VASP · Dubai (VARA)
Virtual Asset Broker-Dealer Services Licence
VARA · capital AED 600,000
- VASP · Dubai (VARA)
Virtual Asset Custody Services Licence
VARA · capital AED 600,000
- VASP · Dubai (VARA)
Virtual Asset Exchange Services Licence
VARA · capital AED 1,500,000
- VASP · Dubai (VARA)
Virtual Asset Lending and Borrowing Services Licence
VARA · capital AED 500,000
- VASP · Dubai (VARA)
Virtual Asset Management and Investment Services Licence
VARA · capital AED 500,000
- VASP · Dubai (VARA)
Virtual Asset Transfer and Settlement Services Licence
VARA · capital AED 500,000
Regulators that apply it
Sources
- dlp.dubai.gov.ae: قانون رقم (4) لسنة 2022 بشأن تنظيم الأصول الافتراضية · retrieved 2026-09-24
- VARA Rulebooks: law no 4 2022 regulating virtual assets emirate dubai · retrieved 2026-09-24
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