Dubai Virtual Asset Regulatory Authority issues warning for Meme coin investors

On February 14th, according to Cointelegraph, the Dubai Virtual Asset Regulatory Authority (VARA) issued an investor warning requiring Meme coins issued in Dubai to comply with VARA's regulatory requirements. VARA reminds investors to be aware of the risks associated with Meme coins, stating that "these assets are highly speculative, volatile, and susceptible to market manipulation. Many of these assets lack intrinsic value, and their prices are primarily driven by social media trends, speculation, or misleading marketing strategies According to regulations, Meme coins issued in Dubai will be required to comply with marketing regulations regarding promotion, advertising, and other aspects, and institutions that violate marketing rules may face fines of up to $135000. Meanwhile, VARA also warns that the institution has the right to restrict access to the Meme coin platform without prior notice.