Dubai regulator fines 19 crypto firms for licensing breaches

9 Mwezi wa kumi, 2025 Imeripotiwa na AI

Dubai's Virtual Assets Regulatory Authority (VARA) has imposed fines on 19 cryptocurrency companies for operating without licenses and violating marketing rules. Penalties range from $27,000 to $163,000, with orders to halt operations immediately. The crackdown aims to protect consumers and ensure regulatory compliance in the emirate's digital asset sector.