Dubai Regulator VARA Sanctions 19 Crypto Firms Operating Without Licenses – Fines Up to $163K Each
The Dubai Virtual Assets Regulatory Authority (VARA) has sanctioned 19 crypto corporations for working unlicensed Virtual Asset operations and violating VARA’s Marketing Regulations. The penalties included cease-and-desist orders alongside fines between AED 100,000 ($27,300) and AED 600,000 ($163,000), adjusted in accordance to the severity and extent of every violation. A Tuesday official statement confirmed the…
