tldr; Dubai’s Virtual Assets Regulatory Authority (VARA) has fined 19 companies for operating without licenses, issuing financial penalties and cease-and-desist orders. The enforcement aims to protect investors and ensure compliance within Dubai’s growing digital asset ecosystem. Penalties ranged from $27,000 to $163,000, depending on the severity of violations, including unauthorized operations and marketing breaches. VARA emphasized its commitment to transparency and market integrity, reminding the public to engage only with licensed crypto operators.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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tldr; Dubai’s Virtual Assets Regulatory Authority (VARA) has fined 19 companies for operating without licenses, issuing financial penalties and cease-and-desist orders. The enforcement aims to protect investors and ensure compliance within Dubai’s growing digital asset ecosystem. Penalties ranged from $27,000 to $163,000, depending on the severity of violations, including unauthorized operations and marketing breaches. VARA emphasized its commitment to transparency and market integrity, reminding the public to engage only with licensed crypto operators.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
It’s a good move for market integrity.
^(!tip 1)
Oh that silly Dubai
Attracting investors, smart
🍩 !tip 1