The Dubai Virtual Assets Regulatory Authority (VARA) published a market alert to address social media claims that the UAE has banned Bitcoin and restricted self-custodial wallets, clarifying that Bitcoin and other virtual assets remain permissible in the UAE under Cabinet Decision No. 111 of 2022 and the rules and regulations of the Securities and Commodities Authority (SCA) and VARA. VARA also clarified that the new Central Bank of the UAE (CBUAE) Law applies to licensed financial institutions, insurance businesses and licensed financial activities as defined in that law. Virtual assets activities and virtual assets service providers remain regulated by SCA or VARA depending on their territory of operations, except where the activity falls within the scope of payment services described in Article 61 of the CBUAE Law, including using virtual assets as a means of payment or legal tender and using stored-value services to provide retail payments or digital money services; market participants were urged to rely on official regulatory publications rather than social media commentary.
Dubai Virtual Assets Regulatory Authority 2025-11-27
Dubai Virtual Assets Regulatory Authority issues market alert clarifying Bitcoin remains permitted and CBUAE Law scope
The Dubai Virtual Assets Regulatory Authority issued a market alert refuting social media claims of a Bitcoin ban in the UAE, affirming that virtual assets remain permissible under existing regulations. VARA emphasized that virtual asset activities are regulated by the Securities and Commodities Authority or VARA, except where covered by the Central Bank of the UAE Law, and advised reliance on official regulatory publications.