Dubai’s VARA Fines 19 Unlicensed Crypto Firms

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Dubai’s crypto regulator fined 19 companies for operating without licenses, signaling a continued push to strengthen oversight and protect investors.

On Tuesday, Dubai’s Virtual Assets Regulatory Authority (VARA) announced that it had issued financial penalties and cease-and-desist orders against 19 companies found to be operating outside its regulatory perimeter. 

VARA said the sanctions were part of its ongoing effort to safeguard the emirate’s fast-growing digital asset ecosystem and limit the risks of unlicensed crypto…



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Dubai’s VARA Fines 19 Unlicensed Crypto Firms



Dubai’s crypto regulator fined 19 companies for operating without licenses, signaling a continued push to strengthen oversight and protect investors.

On Tuesday, Dubai’s Virtual Assets Regulatory Authority (VARA) announced that it had issued financial penalties and cease-and-desist orders against 19 companies found to be operating outside its regulatory perimeter. 

VARA said the sanctions were part of its ongoing effort to safeguard the emirate’s fast-growing digital asset ecosystem and limit the risks of unlicensed crypto…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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