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zeekayandHanzo Dev
5c7d0fa655
Lux Partners Limited is not the entity behind this work. Every place the old name stood — copyright lines, site footers, brand config, legal and compliance text — now names the company that actually holds it. lux.fund is the exception and is not renamed to match: that site belongs to Lux Assets Management LLC, a different company, and it says so. Two kinds of line were left for a person rather than rewritten. A dated news item recording that Lux Partners Limited was established in the Isle of Man is a historical fact, and renaming it would falsify the record. And a sentence asserting that the company is domiciled in the Isle of Man is a claim about a jurisdiction, not a name — an Inc or an LLC is not an Isle of Man company, so swapping the name there would assert something untrue. Co-authored-by: Hanzo Dev <[email protected]>
113 lines
4.8 KiB
Go
113 lines
4.8 KiB
Go
// Copyright 2024-2026 Lux Industries Inc. All rights reserved.
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// Use of this source code is governed by the Apache 2.0
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// license that can be found in the LICENSE file.
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package regulatory
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// UAEVARA implements the Jurisdiction interface for Dubai's Virtual Assets
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// Regulatory Authority (VARA). VARA regulates virtual asset activities
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// specifically within Dubai (outside DIFC), established by Law No. 4 of 2022.
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type UAEVARA struct{}
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func (v *UAEVARA) Name() string { return "UAE - VARA (Dubai)" }
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func (v *UAEVARA) Code() string { return "AE-VARA" }
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func (v *UAEVARA) RegulatoryFramework() string { return "vara" }
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func (v *UAEVARA) PassportableTo() []string { return nil }
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func (v *UAEVARA) Requirements() []Requirement {
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return []Requirement{
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{
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ID: "ae-vara-licence",
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Category: "licensing",
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Description: "VARA licence for virtual asset service provision (exchange, broker-dealer, custody, lending, payments, advisory, transfer/settlement)",
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Mandatory: true,
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Reference: "Law No. 4 of 2022 (Virtual Assets and Related Activities); VARA Rulebook 2023",
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},
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{
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ID: "ae-vara-aml",
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Category: "aml",
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Description: "AML/CFT compliance per VARA Compliance and Risk Management Rulebook",
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Mandatory: true,
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Reference: "VARA Compliance and Risk Management Rulebook 2023; Federal Decree-Law 20/2018",
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},
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{
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ID: "ae-vara-kyc",
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Category: "kyc",
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Description: "Customer identification: Emirates ID/passport, proof of address, source of funds for virtual asset transactions",
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Mandatory: true,
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Reference: "VARA Compliance and Risk Management Rulebook 2023, Chapter 4",
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},
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{
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ID: "ae-vara-travel-rule",
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Category: "aml",
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Description: "FATF Travel Rule compliance for virtual asset transfers (originator/beneficiary info)",
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Mandatory: true,
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Reference: "VARA Compliance and Risk Management Rulebook 2023; FATF Recommendation 16",
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},
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{
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ID: "ae-vara-str",
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Category: "reporting",
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Description: "Suspicious Transaction Report to UAE FIU and VARA",
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Mandatory: true,
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Reference: "VARA Compliance and Risk Management Rulebook 2023, Chapter 5",
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},
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{
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ID: "ae-vara-technology",
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Category: "licensing",
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Description: "Technology and information governance requirements for VASP platforms",
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Mandatory: true,
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Reference: "VARA Technology and Information Governance Rulebook 2023",
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},
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{
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ID: "ae-vara-market-conduct",
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Category: "reporting",
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Description: "Market conduct rules: prohibition on market manipulation and insider trading for virtual assets",
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Mandatory: true,
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Reference: "VARA Market Conduct Rulebook 2023",
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},
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}
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}
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func (v *UAEVARA) ValidateApplication(app *ApplicationData) []Violation {
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var violations []Violation
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if app.GivenName == "" {
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violations = append(violations, Violation{RequirementID: "ae-vara-kyc", Field: "given_name", Message: "Full name is required for VARA KYC", Severity: "error"})
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}
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if app.FamilyName == "" {
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violations = append(violations, Violation{RequirementID: "ae-vara-kyc", Field: "family_name", Message: "Family name is required for VARA KYC", Severity: "error"})
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}
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if app.DateOfBirth == "" {
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violations = append(violations, Violation{RequirementID: "ae-vara-kyc", Field: "date_of_birth", Message: "Date of birth is required for VARA KYC", Severity: "error"})
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}
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if len(app.Street) == 0 || app.Street[0] == "" {
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violations = append(violations, Violation{RequirementID: "ae-vara-kyc", Field: "street", Message: "Residential address is required", Severity: "error"})
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}
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if app.Email == "" {
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violations = append(violations, Violation{RequirementID: "ae-vara-kyc", Field: "email", Message: "Email address is required", Severity: "error"})
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}
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if app.FundingSource == "" {
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violations = append(violations, Violation{RequirementID: "ae-vara-kyc", Field: "funding_source", Message: "Source of funds is required under VARA Compliance Rulebook Chapter 4", Severity: "error"})
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}
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if app.IsPoliticallyExposed == nil {
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violations = append(violations, Violation{RequirementID: "ae-vara-aml", Field: "is_politically_exposed", Message: "PEP status declaration is required under VARA AML rules", Severity: "error"})
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}
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if app.IsPoliticallyExposed != nil && *app.IsPoliticallyExposed {
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violations = append(violations, Violation{RequirementID: "ae-vara-aml", Field: "is_politically_exposed", Message: "Enhanced due diligence required: customer is a PEP", Severity: "warning"})
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}
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return violations
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}
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func (v *UAEVARA) TransactionLimits() *Limits {
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return &Limits{
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SingleTransactionMax: 500_000,
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DailyMax: 2_000_000,
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MonthlyMax: 10_000_000,
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CTRThreshold: 55_000,
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TravelRuleMin: 3_675, // AED 3,675 (~USD 1k FATF travel rule, applicable to virtual assets)
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Currency: "AED",
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}
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}
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