US EditionDubai Regulator Cracks Down on 19 Unlicensed Crypto Operators
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Dubai cracks down on unlicensed crypto firms as UAE reinforces global crypto hub status - Invest In Crypto News
Dubai’s VARA fines 19 crypto firms for operating without proper licenses. Penalties range from AED 100,000 to AED 600,000 with immediate cease orders. VARA and SCA’s partnership ensures unified rules across the country’s digital asset market. The United Arab Emirates is reinforcing its position as a global crypto hub—but not without rules. As the country’s virtual asset market expands, regulators are stepping up enforcement to protect investors …
Dubai sanctions 19 unlicensed virtual asset providers
The Dubai Virtual Asset Regulatory Authority (VARA) has commenced its enforcement program against unlicensed virtual asset providers in the region. In a press release today, the regulatory authority revealed that it imposed financial penalties on 19 firms for carrying out unlicensed Virtual activities following its investigation. The Dubai VARA confirmed that virtual asset providers breaching its Marketing Regulations would face sanctions. As r…
Key Points of the News The Dubai Virtual Assets Authority (VARA) recently fined 19 crypto companies for operating without the corresponding licenses, with penalties ranging from AED 100,000 to AED 600,000. Immediate cessation orders were issued to stop unauthorized activities. The UAE reinforces its status as a global cryptocurrency center through stricter supervision and a unified regulatory framework in collaboration with the Securities and Go…
Dubai Regulator VARA Sanctions 19 Crypto Firms Operating Without Licenses – Fines Up to $163K Each
The Dubai Virtual Assets Regulatory Authority (VARA) has sanctioned 19 crypto firms for operating unlicensed Virtual Asset operations and violating VARA’s Marketing Regulations. The penalties included cease-and-desist orders alongside fines between AED 100,000 ($27,300) and AED 600,000 ($163,000), a...
Dubai’s VARA Slaps Fines on 19 Unlicensed Crypto Companies
Dubai’s financial authorities continue to tighten regulations on the rapidly expanding cryptocurrency market, with recent actions targeting unlicensed firms operating within the emirate. As Dubai positions itself as a global crypto hub, regulators aim to enforce compliance, protect investors, and boost market integrity amid global scrutiny of crypto regulation. Dubai’s Virtual Assets Regulatory Authority (VARA) penalized 19 unlicensed companies…
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