TechFlow reported on February 14 that, according to Cointelegraph, the Dubai Virtual Assets Regulatory Authority (VARA) issued an investor warning stating that meme coins launched in Dubai must comply with VARA's regulatory requirements.
VARA reminded investors of the risks associated with meme coins, noting that such assets are highly speculative and volatile, and susceptible to market manipulation. The authority pointed out that many of these assets lack intrinsic value, with their prices primarily driven by social media trends, hype, or misleading marketing strategies.
Under the regulations, meme coins issued in Dubai must adhere to VARA’s marketing rules, including those governing promotion, advertising, and solicitation. Notably, entities violating marketing regulations may face fines of up to $135,000. In addition, VARA warned that it has the authority to restrict access to meme coin platforms without prior notice.
