As of January 12, 2026, Dubai (DFSA/VARA) has officially triggered a massive regulatory reset. The new rules effectively end the "privacy era" in the Emirate.
Key Changes:
Privacy Ban: Anonymity-enhanced tokens and mixers (like Tornado Cash) are now strictly prohibited.
Stablecoin Control: Issuers must now maintain 1-to-1 fiat reserves and comply with strict central bank oversight.
Self-Custody Pressure: New federal laws give the Central Bank more power over "technology providers," including wallet developers.
Is this the end of Dubai’s reputation as a "crypto-haven," or is this the necessary cost for institutional mass adoption?