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On May 19, Dubai’s Virtual Asset Regulatory Authority (VARA) released its updated Rulebook for virtual asset service providers (VASPs) operating in the region, offering clear regulatory pathways for the issuance and secondary market listing of real-world asset (RWA) tokens.
Irina Heaver, Managing Partner at NeosLegal, explains to Cointelegraph why this marks a critical step from theoretical frameworks to enforceable practice and what it means for issuers and investors operating in the UAE.
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Why it matters. The new VARA Rulebook sets out how tokenized real estate, commodities, and other off-chain assets can be brought on-chain within a supervised environment. It clarifies who may issue, where tokens may list, what disclosures are required, how reserves and title are evidenced, and the custody standards platforms must meet. That clarity reduces regulatory friction and should accelerate listings by licensed exchanges serving the UAE.
What it means for issuers. Founders planning RWA tokenization UAE now have a predictable checklist:
- classify the token correctly,
- select the right license category,
- prepare a prospectus-grade whitepaper with valuation and redemption mechanics,
- appoint licensed custody, and
- align marketing to “fair, clear, not misleading” standards.
Secondary-market readiness is no longer guesswork; the Rulebook explains the approvals and ongoing reporting exchanges will expect before listing an RWA.
What it means for investors. The framework improves transparency and protection. Investors get clearer rights, reserve verification, redemption pathways, and disclosures on valuation and risks. With licensed market operators handling listings and surveillance, the path to compliant exposure to tokenized property, gold, or revenue-backed instruments in Dubai becomes far more straightforward.
How to position your launch. Successful RWA tokenization UAE projects will map the full stack early: legal title and SPV structure, oracle and valuation policy, reserve audits, chain choice and custody model, and a listing strategy with one or more licensed venues. Teams should also prepare AML/KYC, Travel Rule compliance, and record-keeping aligned to UAE expectations across VARA, SCA, ADGM, and DIFC.
Irina Heaver, Managing Partner at NeosLegal, explains to Cointelegraph why this is a step change: the UAE now offers a practical, enforceable route for bringing RWAs on-chain, from issuance through secondary trading, with clear accountability at each layer.
