Virtual Assets Regulatory Authority

VARA Steps Up Enforcement to Safeguard Dubai's Virtual Asset Market - 19 Unlicensed Firms Penalised and Public Warning Issued

VARA penalised 19 firms found offering unlicensed virtual asset services to or from Dubai and issued a public warning naming them; VASPs and the public should verify counterparties against VARA's public register before dealing with them.

What firms should do

Informational

Regulator: Virtual Assets Regulatory Authority
Type: Enforcement Notice
Status: Enacted
Published: 7 Oct 2025
Topic: Enforcement
Impact: High

Read it on the regulator's website

Found automatically on the regulator's website and summarised by AI by Arakan Lexara. Not legal advice; check the official source before relying on it.

Arakan Lexara Weekly

Get the week's UAE regulatory changes every Monday.

Key developments, what firms are asked to do and the deadlines ahead. Free.

VARA Steps Up Enforcement to Safeguard Dubai's Virtual Asset Market - 19 Unlicensed Firms Penalised and Public Warning Issued

More from the Virtual Assets Regulatory Authority

D. Category 1 VA Issuance

Virtual Asset Issuance Rulebook

B. Whitepaper Requirements

Circular: regarding Reserve Assets Audit Report

VARA Notice of Fines - Shelbit General Trading L.L.C

VARA Issues 50th VASP Licence as Dubai's Regulated Virtual Assets Market Continues to Grow