Public disclosures

Ensuring regulatory compliance is of utmost importance to our virtual asset platform. We take our responsibility to our customers seriously and have implemented robust processes and procedures to ensure compliance with all relevant factors related to virtual assets as defined by the VA Standards set out by the UAE regulatory authorities.

One of the key considerations we take into account is market capitalization, which provides an indication of the value and popularity of virtual assets. We also consider liquidity and whether metrics have trended downwards over time, which can provide insight into the stability of the market.

We take into account the design, features, and use cases of virtual assets, whether intended by the Issuer or relevant developers, and whether there are features that may materially affect compliance with applicable laws, regulations, rules, or directives, including but not limited to those relating to AML/CFT, sanctions, securities, and intellectual property.

In addition, we consider regulatory treatment by VARA and other appropriate authorities, including whether the issuance of the virtual asset has received any regulatory approvals. We also ensure that we comply with any prohibitions or conflicts of interest that may arise in jurisdictions in which we provide virtual asset activities.

We ensure the security and immutability of the underlying DLT protocol, and consider the future development of virtual assets as communicated by the Issuer and/or relevant developers. Additionally, we take into account whether virtual assets may be susceptible to price manipulation for any reason and implement relevant mitigations.

We consider potential or actual conflicts of interest that may arise should we provide any virtual asset activities in relation to the virtual asset and relevant mitigations. We also evaluate the background of the Issuer, including relevant experience in the virtual asset sector and whether it has been subject to any investigations or claims in relation to fraud or deceit.

Furthermore, we ensure that any represented rights to other assets are enforceable and that sufficient assets are available to satisfy any obligations related to virtual asset activities. We also ensure that our virtual asset terms and conditions reflect, to the extent possible, the operation of any existing underlying physical market and avoid adverse impacts to such market, if applicable. We regularly review our virtual asset terms and conditions to ensure they conform to standards and practices in that physical market, if applicable.

By adhering to these regulations and standards, we provide a secure and transparent virtual asset trading experience for our customers. We understand the importance of regulatory compliance and are committed to maintaining ongoing compliance by regularly reviewing and improving our processes and procedures. Our customers can trust that their virtual asset activities are conducted in a safe and compliant environment.

For additional information, please refer to VA Standards rules, Part VIII of VARA Market Conduct Rulebook.