Dubai’s crypto authorities tighten restrictions on unauthorized firms | CryptoTvplus
Dubai
Dubai’s cryptocurrency regulator is taking stronger steps to tackle unlicensed companies in the growing crypto market. This is part of a larger plan to improve oversight and ensure businesses comply with regulations in the fast-evolving digital asset market in the UAE.
The main goal of this crackdown is to protect investors and keep the financial system secure by targeting companies that do not follow established rules. The Dubai Financial Services Authority (DFSA) aims to create a safer environment for legitimate crypto businesses while building trust among users.
As part of this effort, the Virtual Assets Regulatory Authority (VARA) has issued cease-and-desist orders and fines to seven companies for operating without the…
