Governance, Risk and Compliance
VARA Compliance
Virtual Assets Regulatory Authority - Dubai
What is VARA?
VARA (Virtual Assets Regulatory Authority) is Dubai's virtual asset regulatory authority. It supervises all crypto-asset activities in the emirate, from exchange to custody and advisory services.
To operate in Dubai, Virtual Asset Service Providers (VASPs) must obtain a VARA license and comply with strict governance, security and compliance requirements.
Dubai, global crypto hub
Dubai has positioned itself as an attractive destination for crypto companies thanks to a clear regulatory framework favorable to innovation.
Activities regulated by VARA
VARA Requirements
Governance and organization
- ✓Organizational structure adapted to crypto activities
- ✓Separation of key functions
- ✓Qualified management committee
- ✓Dedicated compliance officer
Risk management
- ✓Operational risk management framework
- ✓Crypto-specific risk assessment
- ✓Business continuity plans
- ✓Custody risk management
Asset security
- ✓Client asset segregation
- ✓Secure custody solutions
- ✓Cryptographic key management
- ✓Recovery protocols
Regulatory compliance
- ✓Enhanced KYC/AML
- ✓Travel Rule compliance
- ✓Reporting to authorities
- ✓Audit and certification
Our VARA support
Preparation
Eligibility assessment, scope definition and application file preparation.
Compliance implementation
Implementation of policies, procedures and controls required by VARA.
Licensing & follow-up
Support in the licensing process and post-license support.
Our crypto & blockchain expertise
Cyber-SSI supports DeFi, CeFi and Web3 players in their compliance with DORA, ISO 27001, SOC 2 and regulators (AMF, ACPR, DFIC, VARA) requirements by combining regulatory and technical expertise.