Dubai’s VARA has updated its AML guidance, requiring licensed crypto firms to run ongoing risk reviews, revisit assessments at least every three months, and give senior management direct responsibility for current risk exposure.
Dubai’s DFSA has banned privacy tokens and mixers in the DIFC, narrowed the definition of stablecoins, and shifted token listing suitability checks from a regulator whitelist to firms themselves.
XRP rose 3.32% to $1.42 as a major XRPL pilot, Ripple partnership updates, a Dubai license, and $1.32 billion in cumulative ETF inflows drew market focus.
Dubai approved its first law to regulate virtual assets and established the Dubai Virtual Assets Regulatory Authority (VARA) to oversee crypto activities, aiming to position the UAE as a global leader in the virtual asset space.
The Dubai Financial Services Authority (DFSA) has approved XRP as a recognized crypto token within the Dubai International Financial Centre (DIFC), making it the first virtual asset approved through the external application regime. Ripple says institutions in the DIFC can now use XRP for faster global payments.
DFSA adds XRP to its list of recognized crypto tokens, allowing licensed firms in DIFC to offer XRP-based services. Ripple hails the move as a milestone for regulatory clarity in the Middle East.
Dubai’s DFSA has approved XRP as a recognized crypto token within the DIFC, allowing licensed virtual asset firms to incorporate it into services under a clearer regulatory framework.
Ripple announced a new regional headquarters in Dubai’s DIFC to double its Middle East and Africa team, fueled by rising demand for regulated blockchain payments and custody solutions. The expansion follows DFSA licensing and recognition of RLUSD stablecoin, unlocking access to a $400 billion trade and $40 billion remittance market.
