Amid Dubai’s release of a new license program catering to crypto service providers, regulators in the area are rolling out extra marketing and advertising rules for the sector.

Specifically, Dubai’s Virtual Asset Regulatory Authority (VARA), the city’s devoted crypto regulator, reportedly disclosed details regatding new regulatory guidelines focusing on the marketing, advertising and promotions of virtual assets.

The rules reportedly revealed the VARA’s reference to all forms of outreach, communications and advertising, dissemination of information, building awareness, customer engagement, investor solicitation and others. 

The scope of the guidelines reportedly include all virtual asset-associated communications and entities publishing data on Dubai-based media websites, search platforms together with online and offline publishing channels that focus on customers within the Dubai market.

The regulations reportedly also make it mandatory for every local virtual asset service providers (VASPs), including advertising platforms, to make sure factual accuracy and openly showcase any promotional intent to prevent misleading potential customers.

The VARA reportedly claimed that the new guidelines associated with Dubai’s crypto-centric Minimal Viable Product (MVP) license. 

“These regulations specifically address marketing and communications activities, ahead of operationalizing the MVP licensees so that any mass-market information dissemination, and consumer solicitation are designed to safeguard community interests.”

Previously, Sam Bankman-Fried’s FTX crypto exchange was among the pioneering firms to be granted VARA’s MVP license via its local subsidiary FZE in July thí year. 

The license reportedly ofer FZE the legal freedom to ofer services a VASP in the region.