Holpop News

Dubai’s Virtual Asset Regulatory Authority (VARA) has issued a set of rules for virtual asset service providers (VASPs).
The most important innovation of these rules is that cryptocurrencies with increased privacy are described as assets that prevent ownership or transaction tracking.
Therefore, coins such as Zcash (ZEC) and Monero (XMR) will henceforth be banned in Dubai. In addition, issuance of these types of coins will also be banned in the region.
In addition, large proprietary traders with a trading capital of more than $250 million will also have to obtain registration with VARA.