Dubai Virtual Asset Regulatory Authority Issues Meme Coin Investor Warning

BlockBeats News, February 14th, according to Cointelegraph, the Dubai Virtual Assets Regulatory Authority (VARA) issued an investor warning, requiring meme coins issued in Dubai to comply with VARA's regulatory requirements. VARA reminded investors to be aware of the risks associated with meme coins, stating that "such assets are highly speculative, volatile, and susceptible to market manipulation. Many of these assets lack intrinsic value, and their prices are primarily driven by social media trends, hype, or misleading marketing strategies."

According to the regulations, meme coins issued in Dubai will have to comply with marketing regulations in terms of promotion, advertising, etc., and institutions that violate marketing rules may face fines of up to $135,000. At the same time, VARA also warned that the authority has the right to restrict access to meme coin platforms without prior notice.