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  • Part II – Issuing Virtual Assets

    • A. Issuance Rules

      1. General requirement. Any Entity in the Emirate that issues a Virtual Asset in the course of a business, must comply with the VA Issuance Rulebook, as may be amended from time to time.
       

    • B. Power to Classify Virtual Assets

      1. VARA may, in its sole and absolute discretion, classify, or otherwise provide clarification or opinion, by public notice either generally or in a specific case, on—
       
        a. any Virtual Asset, or type of Virtual Asset, as being prohibited in the Emirate;
        b. any Virtual Asset, or type of Virtual Asset, as being regulated by the CBUAE; or
        c. VARA’s interpretation, classification or regulatory treatment of any Virtual Asset or type of Virtual Asset.
       

    • C. Prohibited Virtual Assets

      1. The issuance of Anonymity-Enhanced Cryptocurrencies and all VA Activity[ies] related to them are prohibited in the Emirate.