Dubai Virtual Asset Regulatory Authority issues warning: Companies are strictly prohibited from falsely advertising participation in real estate tokenization pilot

04/24 06:44

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the Dubai Virtual Assets Regulatory Authority (VARA) issued a notice on April 23, emphasizing that no company can claim to participate in the pilot project "DLD Real Estate Tokenization Project" launched on March 19, except for entities expressly approved by VARA and the Dubai Land Department (DLD). VARA pointed out that unauthorized participants are suspected of engaging in illegal virtual asset activities or violating relevant regulations such as marketing, and will face enforcement measures including fines and market bans. VARA reminds users to verify the platform's qualifications through the official website to avoid falling into high-risk unauthorized project traps.

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