Dubai’s VARA Cracks Down on Unlicensed Crypto Firms
Dubai’s Virtual Assets Regulatory Authority has implemented a crackdown on firms and crypto companies operating without licenses or breaching marketing regulations. On October 9, Dubai’s Virtual Assets Regulatory Authority (VARA) imposed cease-and-desist orders and fines on seven businesses for operating without the necessary licenses and violating marketing regulations. VARA stated that it is conducting additional […]
Ripple Secures Approval for Dubai Expansion
Ripple, a provider of digital asset infrastructure, has been granted permission to extend its operations in Dubai. Ripple has been given “in-principle approval” by the Dubai Financial Services Authority (DFSA) to provide its services from the Dubai International Financial Centre. This will enable Ripple to offer effective payment solutions and seamless cross-border payment services in […]
Dubai Turns Strict on Marketing Crypto Investments
The Dubai change aims to standardize messaging across the industry and protect investors by raising awareness of associated risks. Haven for cryptocurrency investments, Dubai has recently decided to take a different approach and tighten its policies. Dubai Regulator Updates Guidelines on Crypto Investments This is the first measure of its kind to come from the […]
Dubai Regulator Grants Bybit Provisional Crypto License
Bybit, the world’s second-largest crypto exchange by derivatives volume, has obtained a two-year provisional license in Dubai after establishing its headquarters in the city. An announcement shared with Cointelegraph indicates that the Virtual Asset Regulatory Authority (VARA) has granted a non-operational license to the centralized crypto exchange (CEX). According to Helen Liu, the chief operating […]
Dubai Court Sees Salary Payment in Crypto as Valid
The Dubai Court of First Instance has recognized salary payments in crypto as valid under employment contracts, showing the growing acceptance of crypto in the United Arab Emirates. Irina Heaver, a partner at the UAE law firm NeosLegal, clarified that the ruling in case number 1739 of 2024 represents a departure from the court’s previous […]