Original sourceCryptonomist
Summary
Dubai's Virtual Assets Regulatory Authority (VARA) tightened record-keeping requirements for all virtual asset service providers (VASPs) effective immediately from September 23, 2026. Regulated firms must maintain complete transaction records, clear and traceable audit trails, proper books, transac…
Key points
- Crypto firms based in the Middle East or serving Dubai clients must immediately review whether record-keeping and audit processes meet the new requirements.
- Records and audit trails become compliance obligations that can be demanded directly, so dispute handling and regulatory checks no longer rely on after-the-fact document production.
- VASPs need to invest manpower and systems to revamp bookkeeping and log retention, and provide verifiable transaction trails during client disputes, or face compliance risk.
Editorial note
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