Dubai Virtual Assets Authority issues cease-and-desist orders and fines seven crypto entities for non-compliant activities
The Dubai Virtual Asset Regulatory Authority (VARA) is one of the regulatory agencies in the cryptocurrency industry in the United Arab Emirates. VARA has imposed fines on seven cryptocurrency entities for operating without the required licenses and violating marketing regulations. VARA has not disclosed the names of these entities and stated that it is investigating them with the local government. The fines for each entity range from 50,000 dirhams (approximately $13,600 USD) to 100,000 dirhams.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ripple wins SEC lawsuit and recovers $75M after legal battle ends
Share link:In this post: Ripple and the SEC agreed to settle their lawsuit with a $50 million payment, and Ripple will get $75 million back. This ends a legal battle that started in 2020 and has weighed on XRP for years. XRP’s price jumped over 10% as investors expect the court to approve the deal soon.
Ethereum wallets enable 7702 upgrade for 2 million users
Mint Blockchain Integrates Chainlink CCIP to Power Cross-Chain Connectivity
Ethereum (ETH) Soars Above $2000; What’s Next?
Trending news
MoreCrypto prices
More
