LCT

Virtual Assets Standards

LCT Global FZE ("LCT") is committed to adhering to the Virtual Assets Standards established by the Dubai Virtual Assets Regulatory Authority (“VARA”). This policy outlines the standards and practices that LCT assesses when evaluating Virtual Assets for listing or inclusion in its services to ensure compliance with VARA regulations and to maintain transparency, security, and integrity in all Virtual Assets Activities.

LCT evaluates Virtual Assets against the following criteria before approving them for its services:
  • 1.Market Metrics: 1.Market capitalization, fully diluted value (FDV), and liquidity, and whether such metrics have trended downwards over time.
  • 2.Design and Features: Design, features, and use cases, whether or not intended by the Issuer or relevant developers.
  • 3.Legal Compliance: Features of the Virtual Asset that may materially affect compliance with UAE laws, Regulations, Rules, or Directives, including those related to AML/CFT, sanctions, securities, and intellectual property, are a primary consideration
  • 4.Regulatory Treatment Regulatory treatment by VARA and other appropriate authorities, including those outside the Emirate of Dubai, in particular whether the issuance of the Virtual Asset has received any regulatory approvals.
  • 5.Jurisdictional Compliance: Prohibitions on the Virtual Asset by VARA or any other appropriate authorities, both inside or outside the UAE, in jurisdictions where LCT will provide Virtual Assets Activities, or equivalent activities, in relation to such Virtual Asset.
  • 6.Security: The security and immutability of the Virtual Asset’s underlying Distributed Ledger Technology (DLT) protocol.
  • 7.Development Roadmap: Future development plans and roadmaps as communicated by the Issuer and/or relevant developers.
  • 8.Price Manipulation: Susceptibility of the Virtual Asset to price manipulation for any reason and relevant mitigations that will be implemented by LCT.
  • 9.Conflict of Interest: Potential or actual conflicts of interest that may arise from providing any Virtual Assets Activities in relation to the Virtual Asset and relevant mitigations.
  • 10.Issuer Background: 10.The background of the virtual asset issuer including, but not limited to, relevant experience in the Virtual Asset sector and whether it has been subject to any investigations or claims in relation to fraud or deceit.
  • 11.Asset Rights: The enforceability of any rights associated with the Virtual Asset to any other assets.
  • 12.Asset Sufficiency: The availability of sufficient assets to satisfy any obligation arising from Virtual Asset Activities.
  • 13.Market Correlation: Reflection of the Virtual Asset terms and conditions, to the extent possible, to the operation of any existing underlying physical market and avoid adverse impacts to such market, where applicable.
  • 14.Periodic Review: Periodic review of the Virtual Asset terms and conditions for appropriate correlation with any physical market to ensure alignment with standards and practices in that market, where applicable.