Crypto companies (VASP) are required to obtain a license, check the financial status of their clients, and separate margin accounts from others. They are also prohibited from using one client's funds to finance another's margin trading, even with consent. VASPs must issue monthly statements to clients and monitor their accounts. For ETD services, an insurance fund with a limit set by VARA is required, which can be in virtual assets, fiat, or stablecoins approved by the regulator. Settlements for both services must be completed within a day, despite delays beyond the company's control. Additionally, VARA may change margin requirements and suspend trading.
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The Dubai crypto regulator VARA has set rules for margin trading and exchange-traded derivatives (ETD).
Crypto companies (VASP) are required to obtain a license, check the financial status of their clients, and separate margin accounts from others. They are also prohibited from using one client's funds...