FATF Travel Rule Requirements in Dubai

In February 2022, the Government of Dubai enacted a new law, creating the Virtual Assets Regulatory Authority (VARA) to oversee virtual assets and related service providers. A year later, in 2023, VARA launched a set of regulations and 13 rulebooks, including the Compliance and Risk Management Rulebook.

The Compliance and Risk Management Rulebook provides a comprehensive regulatory framework for Dubai’s virtual assets, covering licensing, customer due diligence, risk management, and Crypto Travel Rule compliance.

Download the guide to learn important information about cryptocurrency regulations in Dubai, including:

• The minimum threshold that triggers Travel Rule compliance in Dubai
• The counterparty due diligence requirements for Dubai VASPs
• VARA's stance on the sunrise issue
• Self-hosted wallet requirements for Dubai VASPs