VARA Requires Dubai Crypto Firms to Integrate FATF Blacklists, Update Risk Profiles Every 3 Months

According to VARA's 2026 guidance, Dubai-based virtual asset service providers must maintain data-driven business risk assessments that integrate Financial Action Task Force (FATF) high-risk and blacklisted countries into real-time risk-scoring models. Risk profiles must be refreshed at least every three months or immediately following material operational changes. The framework mandates that firms formally document risks from artificial intelligence-enabled operations and anonymity-enhanced transactions, with compliance officers held accountable for ensuring findings guide resource allocation and enforcement decisions.
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