Dubai regulator cracks down on 19 unlicensed crypto operators

Dubai’s crypto regulator sanctioned 19 companies for unlicensed operations and marketing violations, imposing fines up to $163,000.

Dubai’s crypto regulator has 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 issued financial penalties and cease-and-desist orders against 19 companies found to be operating outside of 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 tied to unlicensed crypto activities.

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