ZKFair's ZKF Airdrop Details, Criteria, Eligibility, and Launch Date
Positioned as the "1st community-owned ZK Layer 2," ZKFair leverages on Polygon's Cloud Development Kit (CDK) and Celestia DA's ZK-L2, with technical support from Lumoz RaaS.
BrianLog in/ Sign up
Dubai Constructs Virtual Assets Framework
Follow
https://www.finextra.com/pressarticle/95755/dubai-constructs-virtual-assets-framework
Dubai’s Virtual Asset Regulatory Authority (VARA) has launched its Virtual Assets and Related Activities Regulations 2023, setting out a comprehensive Virtual Asset Framework to support economic sustainability and cross-border financial security.
The framework will provide regulatory certainty for the market by mandating gold-standard risk assurance and Anti-Money Laundering (AML) standards to be applied by licensed entities in Dubai. The seven licensed VA activities under the VARA regime include Advisory services, Broker-Dealer services, Custodial services, Exchange services, Lending-Borrowing services, Payments and Remittances services, and VA Management and Investment services. Issuance is also a regulated activity under the VARA regime to allow consumers to make more informed decisions on new tokens launched in Dubai and the associated obligations of the issuer.
His Excellency Helal Saeed Almarri, Director General Dubai’s Department of Economy & Tourism and Chairman of VARA’s Executive Board, said: “Dubai’s D33 Economic Plan has outlined our mission to establish the Emirate as the capital of the Future Economy anchored by Metaverse, AI, Web3.0 and Blockchain. In Q1-2022, VARA was launched as the world’s only independent and specialist regulator for Virtual Assets to serve as the accelerator for a truly borderless Digital Economy. Ahead of its first anniversary since establishment, VARA launches the first-of-its-kind VA framework structured to accelerate our New Economy agenda, augmenting secure, and sustainable ‘global’ market growth. This custom-designed construct reflects UAE’s commitment to building responsible safeguards, and Dubai’s confidence in delivering a progressive VA ecosystem that nurtures next-gen innovation.”
According to Almarri, the VA Framework is designed to accelerate the New Economy agenda, augment global market growth, and reflect the UAE’s commitment to building responsible safeguards. VARA will provide VA oversight across Dubai, except for the Dubai International Financial Centre (DIFC), to facilitate VA-associated economic stability, investor protection, and jurisdictional resilience.
Existing MVP Operational license applicants, legacy UAE-based Virtual Asset Service-Providers (VASPs), and new market entrants will have a route towards full FMP licensing, and all VASPs offering VA services to the Dubai market prior to the publication of the FMP Regulations will be required to register with VARA and become fully compliant with the final rules. Any breach of this condition will be subject to regulatory action.
The full Virtual Assets and Related Activities Regulations 2023 will be available on vara.ae.
Gain a broader understanding of the crypto industry through informative reports, and engage in in-depth discussions with other like-minded authors and readers. You are welcome to join us in our growing Coinlive community:https://t.me/CoinliveSG
Add Comment
LoginLeave your comments
0 Comments
Earliest
Load more comments
Live Updates
- Planet Evening NewsBullishBearish
- SourceBullishBearish
Trending News
- Brian
Ubisoft's ‘Champions Tactics’ NFTs Made $2M in Minutes – What Happened?
Ubisoft's latest release, Champions Tactics: Grimoria Chronicles, has stormed the NFT market, achieving an outstanding $2 million in sales shortly after its public debut. This unexpected success has not only turned heads within the gaming community but has also sparked a frenzy in the crypto world.
JoyJudge Rejects SBF's Last-Minute Bid for Sentencing Delay
FTX's ex-CEO Sam Bankman-Fried's bid for sentencing delay denied; pre-sentencing interview proceeds as planned, maintaining the current sentencing date.
Hui XinLegal Tangle Tightens Around Three Arrows Capital Founders
British and Singapore courts have frozen over $1 billion in assets of Three Arrows Capital's founders amid ongoing legal struggles and a broader crypto market downturn.
AlexCryptocurrency Job Market Faces Severe Decline in 2023
Bitcoin-related jobs have nosedived by over 95%, while broader crypto-related positions have taken a significant hit, witnessing a staggering 90% drop. Although less affected, blockchain jobs have also faced a considerable decline, recording a moderate 50% decrease.
JoySBF's Sentencing Schedule Unchanged: Judge Declines Postponement
Judge denies SBF's request for a sentencing delay, maintaining the schedule for his legal proceedings despite his defense's appeal for more preparation time.
KikyoUK's Highest Court Rejects Patents Originating from Artificial Intelligence
UK Supreme Court denies AI inventor status, reinforcing the legal stance that only humans can be credited as inventors in landmark decision.
Hui XinBitget Wallet Integrates ZKFair Mainnet, Announces $3,000 USDC Giveaway Amidst ZKF Airdrop
Users can now use the wallet to seamlessly create and import ZKFair accounts on mobile apps and browser plug-ins, facilitating main network asset management, transfers, and interaction with dApps within the ecosystem.
BrianAccount IDs Are Useless in URLs? X's Flaw Exposes Users to Crypto Scammers' New Exploits
A flaw identified by BleepingComputer allows scammers to manipulate URLs, presenting a tweet as if posted by a legitimate account, while redirecting users to fraudulent content. X's mechanism of using the status ID for post retrieval without validating the account name facilitates scammers in modifying even high-profile account names.
JoyShiba Inu Token Burn Soars: A New Era with .Shib Domains
Shiba Inu's token burn rate leaps with .shib domain launch, hinting at future price potential.
Alex