Dubai’s VARA Fines 19 Unlicensed Crypto Firms

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…