Dubai regulator cracks down on 19 unlicensed crypto operators
Dubai’s crypto regulator sanctioned 19 companies for unlicensed operations and marketing violations, imposing fines of up to $163,000.
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 activities.