Dubai has released updated guidelines for token issuances, including RWA and stablecoins.

Dubai's VARA Issues Guidance on Stablecoin and RWA Token Issuance

Dubai's Virtual Assets Regulatory Authority (VARA) has issued new guidance for virtual asset issuances. The rules set clear standards for the structure, disclosure, and distribution of stablecoins and real-world asset (RWA) tokens.

The guidance splits token issuance into three categories. Category 1 covers fiat-pegged and asset-pegged virtual assets. Category 2 requires distribution through licensed intermediaries, who are responsible for due diligence and ongoing compliance checks. Category 3 covers exempt virtual assets with restricted functionality.

VARA general counsel Ruben Bombardi said the framework boosts transparency through white papers and independent risk disclosure statements, offering issuers "greater regulatory certainty" and market participants a "single, exclusive reference point." The guidance is an explanatory document for the existing Virtual Asset Issuance Rulebook, not new legislation.