| 1. | Journalistic exemption. An Entity in the Emirate posting, publishing or presenting content of or relating to any Virtual Asset or VA Activity in its capacity as a journalist shall not be considered as conducting Marketing, provided that—
| a. | the Entity is appropriately licensed by relevant authorities for all activities carried out and/or content published in the Emirate, and continues to comply with all requirements in relation to such activities and content; | | b. | the overall purpose of the content, taken as a whole and including any promotional material contained in it, is not Marketing of or relating to any Virtual Asset or VA Activity in or targeting the UAE; | | c. | the content is accompanied by a prominent disclaimer explaining the nature of the author Entity’s interest, or the interest(s) of related parties such as their spouse, children, parents, parents of their spouse and/or any person living in the same residence, in any Virtual Asset, VA Activity and/or VASP to which the content relates. Interest shall include, but not be limited to, any employment or commercial arrangement, potential benefit or avoidance of loss, noting that the timing of such interest need not be immediate in actualisation, and may be realisable in the future; | | d. | it complies with Marketing Regulation I.C.2.k; and | | e. | if the content involves or includes at any stage, a reference to the purchase of a Virtual Asset, it includes a prominent disclaimer that Virtual Assets may lose their value in part or in full, and are subject to extreme volatility at times.
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| 2. | Educational exemption. An Entity posting, publishing or presenting educational content of or relating to any Virtual Asset or VA Activity shall not be considered as conducting Marketing, provided that—
| a. | the overall purpose of the content, taken as a whole and including any promotional material contained in it, is not Marketing of or relating to any Virtual Asset or VA Activity in or targeting the UAE; | | b. | the content is accompanied by prominent disclaimer explaining the nature of the author Entity’s interest, or the interest(s) of related parties such as their spouse, children, parents, parents of their spouse and/or any person living in the same residence, in any Virtual Asset, VA Activity and/or VASP to which the content relates. Interest shall include any employment or commercial arrangement, potential benefit or avoidance of loss; | | c. | it complies with Marketing Regulation I.C.2.k; and | | d. | if the content involves or includes at any stage a reference to the purchase of a Virtual Asset, it includes a prominent disclaimer that Virtual Assets may lose their value in part or in full, and are subject to extreme volatility at times.
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| 3. | Personal or private communications exemption. An Entity shall not be considered as conducting Marketing if such Entity is engaging in purely personal or private communications, noting at all times that VARA shall retain sole and absolute discretion to determine when communications are not considered purely personal or private. |
| 4. | Key opinion leaders. “Key opinion leaders”, or such group as may be defined from time to time by competent authorities in the Emirate, shall not be deemed by VARA to qualify under either exemption in Marketing Regulation I.D.1 or I.D.2 and must comply with these Marketing Regulations in full, as well as all requirements of relevant authorities for all activities carried out in the Emirate.
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