PANews reported on April 24 that the Dubai Virtual Asset Regulatory Authority (VARA) issued an announcement on April 23, emphasizing that except for entities explicitly approved by VARA and the Dubai Land Department (DLD), no company may claim to participate in the pilot "DLD Real Estate Tokenization Project" launched on March 19. VARA pointed out that unauthorized participants suspected of engaging in illegal virtual asset activities or violating relevant regulations such as its marketing will face enforcement measures including fines and market bans. VARA reminds users to verify the platform qualifications through the official website to avoid falling into the trap of high-risk unauthorized projects.