Dubai Virtual Asset Regulatory Authority issues warning: Companies are strictly prohibited from falsely advertising participation in real estate tokenization pilot

PANews reported on April 24 that the Virtual Assets Regulatory Authority (VARA) issued an announcement on April 23, emphasizing that no enterprise may claim to participate in the "DLD Real Estate Tokenization Project" pilot launched on March 19, except for entities explicitly approved by VARA and the Dubai Land Department (DLD). VARA pointed out that unauthorized participants are suspected of engaging in illegal virtual asset activities or violating market marketing and related regulations, and will face enforcement measures including fines and market bans. VARA reminds users to verify platform qualifications through its official website to avoid falling into high-risk unauthorized project traps.