Dubai’s Virtual Assets Regulatory Authority (VARA) has fined 19 digital asset firms for operating without licences and breaching marketing regulations. Fines ranged from AED 100,000 to AED 600,000, with cease-and-desist orders issued. The action comes amid broader VARA policy upgrades, including enhanced risk oversight, client verification, and compliance standards for licensed crypto and Web3 service providers, reinforcing a secure and fully regulated digital asset market in Dubai.
Tech
Dubai’s VARA Fines 19 Crypto Firms for Unlicensed Operations
by aweeincm1
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