The Dubai Virtual Assets Regulatory Authority (VARA) has taken action against seven unlicensed crypto entities for operating without licenses and violating marketing regulations. VARA has issued cease-and-desist orders and imposed fines on these entities. The regulator warned the public of the risks associated with dealing with unlicensed crypto businesses, emphasizing the potential for financial and…
VARA issued cease-and-desist orders and fines to seven unlicensed crypto entities. VARA emphasizes consumer protection and compliance in its regulatory framework. 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…
Dubai enhances consumer protection with updated crypto marketing rules, starting October 1, 2024. VARA has released guidelines for VASPs to help them comply with the new marketing standards. The crypto-friendly country of Dubai is stepping up its approach to marketing virtual asset investments as the city’s crypto sector continues to grow. Dubai’s Virtual Asset Regulatory…
Crypto.com has secured a payment service provider (PSP) license from the Central Bank of Bahrain (CBB). This license allows the crypto exchange to offer e-money and fiat-based payment services, including its prepaid cards, in the region. The approval adds to Crypto.com’s growing list of regulatory approvals worldwide, further solidifying its global presence. Meanwhile, Amber Group’s…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 Bybit, a prominent cryptocurrency exchange, has secured a provisional license from Dubai’s Virtual Asset Regulatory Authority (VARA). According to the announcement, the non-operational license marks a significant milestone in the company’s efforts to expand its global footprint and aligns with Dubai’s vision of becoming a leading hub for blockchain…
The VASPs operating in Dubai must secure a VARA license under the UAE’s new agreement. The agreement boosts oversight with shared supervision and penalties to enhance compliance. The United Arab Emirates (UAE) has taken a significant step towards solidifying its position as a global leader in virtual assets. A new cooperation agreement between the Securities…
August 31, 2024 at 12:48 PM GST 2 mins read News Crypto.com launched Global Retail Services in over 90 countries, starting in the UAE. Partnership with Standard Chartered enhances Crypto.com’s global transaction capabilities. Dubai’s VARA supports Crypto.com’s secure and compliant service expansion. Crypto.com has announced a new Global Retail Services program which will simplify cryptocurrency…