Dubai VARA Charges Against 7 Unlicensed Crypto Entities

Quick Summary:

Dubai’s Virtual Assets Regulatory Authority (VARA) has taken significant action by issuing cease-and-desist orders against seven cryptocurrency entities.

These firms operated without the necessary licenses and violated marketing regulations.

As a result, VARA imposed fines ranging from AED 50,000 to AED 100,000 (approximately $13,600 to $27,200) on each entity.

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Article Details

Author / Journalist: Sindhu

Category: Crypto

Markets: United Arab Emirates

Topics: Cryptocurrency exchanges VARA Market News Dubai

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-10 @ 13:16:11 (15 hours ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 296 words

Reading Time: 2 minutes read

Sentences: 25 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 22982675

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 25 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 15 hours ago

Coverage Areas: United Arab Emirates

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #125

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