Dubai Virtual Asset Regulatory Authority issues warning: companies are strictly prohibited from falsely promoting their participation in real estate tokenization pilot projects

The Dubai Virtual Asset Regulatory Authority (VARA) issued a statement on April 23, emphasizing that no enterprise shall claim to participate in the "DLD Real Estate Securitization Project" pilot launched on March 19, except for entities explicitly approved by VARA and the Dubai Land Authority (DLD). VARA pointed out that unauthorized participants who are suspected of engaging in illegal virtual asset activities or violating relevant regulations such as marketing will face enforcement measures including fines and market bans. VARA reminds users to verify platform qualifications through the official website to avoid falling into high-risk unauthorized project traps.