Cryptocurrency marketing can sometimes be misleading, and if suspicious schemes or scams are promoted, it can be harmful to viewers. Therefore, when discussing laws, a lot of countries are focusing on this topic.
And Dubai, which wants to be the world’s crypto center, is the same. The goal of Dubai’s new crypto marketing regulations is to safeguard investors and, ideally, keep the public from being exposed to deceptive material.
With the introduction of marketing and advertising regulations for the sector, Dubai will soon be launching a new licence programme targeted at local regulators and service providers in the crypto space.
New rules for the marketing, advertising, and promotion of cryptocurrencies were announced by Dubai’s virtual asset regulatory authority (VARA), a cryptocurrency regulation.
All means of outreach, communication, and advertising have been discussed by VARA. This involved, among other things, the distribution of information, raising awareness, encouraging customer participation, and even investor appeal.
Dubai’s new regulations on crypto marketing
New legal requirements for the marketing or promotion of digital assets are being introduced by the nation’s Virtual Asset Regulatory Authority (VARA). This involves consumer engagement, outreach, advertising, information exchange, raising awareness, communications, investor recruitment, and many other things. It refers to basically everything that links the cryptocurrency exchange, project, or business with the client. Additionally, according to the Virtual Asset Regulatory Authority, it is applicable to both online and offline marketing platforms.
The laws that “particularly cover marketing and communications activities” will be put in place until Dubai introduces a new licencing system called MVP (Minimal Viable Product). It’s important to understand how significant a part this will play in safeguarding investors. People who are inexperienced with cryptocurrency frequently fall for misleading promises made by projects or frauds.