The Dubai Virtual Assets Regulatory Authority (VARA) issued enforcement notices against 19 firms it found to be operating outside its regulatory perimeter, imposing financial penalties for unlicensed virtual asset activities and breaches of VARA’s Marketing Regulations, and publishing a public warning on the risks of engaging with unlicensed operators. Sanctions include cease-and-desist orders and fines ranging from AED 100,000 to AED 600,000, calibrated to the seriousness and scope of the violations. All penalised firms were directed to immediately cease operations and stop any further promotion of unlicensed virtual asset services in or from Dubai, with VARA indicating it will continue proactively identifying and investigating unlicensed activity.
Dubai Virtual Assets Regulatory Authority 2025-10-07
Dubai Virtual Assets Regulatory Authority penalises 19 unlicensed virtual asset firms with cease-and-desist orders and AED 100,000 to AED 600,000 fines
The Dubai Virtual Assets Regulatory Authority (VARA) issued enforcement notices against 19 firms for operating outside its regulatory perimeter, imposing fines between AED 100,000 and AED 600,000 for unlicensed virtual asset activities and breaches of Marketing Regulations. Sanctions include cease-and-desist orders, directing firms to halt operations and promotions of unlicensed services. VARA will continue to identify and investigate unlicensed activities.