| Term | Definition |
| “Asset-Referenced Virtual Asset” or “ARVA” | has the meaning ascribed to it in Schedule 2 – Definitions of the VA Issuance Rulebook. |
| “ARVA Rules” | means these Asset-Referenced Virtual Assets Issuance Rules issued by VARA pursuant to the Regulations, as may be amended from time to time. |
| “Category 1 VA Issuance” | has the meaning ascribed to it in the VA Issuance Rulebook. |
| “Client Money” | has the meaning ascribed to it in the Compliance and Risk Management Rulebook. |
| “Client VA” | has the meaning ascribed to it in the Compliance and Risk Management Rulebook. |
| “Directive” | has the meaning ascribed to it in the Regulations. |
| “Dubai VA Law” | means Dubai Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai, as may be amended from time to time. |
| “Emirate” | means all zones across the Emirate of Dubai, including Special Development Zones and Free Zones but excluding the Dubai International Financial Centre. |
| “Entity” | means any legal entity or individual. |
| “Insolvency Proceedings” | has the meaning ascribed to it in the Regulations. |
| “Insolvent” | has the meaning ascribed to it in the Regulations. |
| “Issuer” | means the Entity responsible for the issuance of a Virtual Asset. |
| “Marketing” | has the meaning ascribed to it in the Marketing Regulations. |
| “Marketing Regulations” | means the Regulations on the Marketing of Virtual Assets and Related Activities 2024, issued by VARA and as may be amended or superseded from time to time. |
| “Regulations” | means the Virtual Assets and Related Activities Regulations 2023, as may be amended from time to time. |
| “Reference Assets” | has the meaning ascribed to it in Rule III.A.3 of these ARVA Rules. |
| “Reserve Assets” | has the meaning ascribed to it in Rule III.A.4. of these ARVA Rules. |
| “Senior Management” | means the executive management of an Entity responsible and accountable to the Board for the sound and prudent day-to-day management of the Entity, generally including but not limited to, the chief executive officer, chief financial officer, chief risk officer, and heads of the compliance and internal audit functions, or as equivalent roles may be titled. |
| “Significant ARVA Issuer” | means a VASP designated by VARA in accordance with Rule III.C.1 of these ARVA Rules. |
| “VA Issuance Rulebook” | means the Virtual Asset Issuance Rulebook issued by VARA pursuant to the Regulations, as may be amended or supplemented by VARA from time to time. |
| “VARA” | means the Dubai Virtual Assets Regulatory Authority. |
| “Virtual Asset” or “VA” | has the meaning ascribed to it in the Dubai VA Law. |
| “Whitepaper” | has the meaning ascribed to it in Rule III.A,1 of the VA Issuance Rulebook. |