Dubai Crypto Regulations: VASP Ban on Privacy Tokens & New Stablecoin Rules

Dubai's Virtual Assets Regulatory Authority (VARA) has announced a major regulatory reset for the crypto sector. The new rules explicitly prohibit Virtual Asset Service Providers (VASPs) from offering privacy-focused tokens or anonymizing services. Furthermore, VARA has introduced significantly stricter requirements for stablecoin issuers, demanding enhanced governance and compliance measures. This regulatory overhaul aims to increase transparency and align Dubai's crypto framework with global financial standards, impacting exchanges and service providers operating in the emirate.