Dubai Fines 19 Unlicensed Crypto Firms $163,000 for Market Integrity

Dubai’s Virtual Assets Regulatory Authority (VARA) has imposed fines up to $163,000 on 19 firms operating without licenses for unlicensed crypto activities. These penalties aim to maintain transparency and market integrity in Dubai’s virtual asset landscape. VARA’s enforcement action focuses on ensuring compliance, with no reports of seized assets or major disruptions to the broader crypto market.