According to Hong Kong media Ming Pao, Deepa Raja Carbon, managing director and vice chairperson of the Dubai Virtual Asset Regulatory Authority (VARA), said that after the turmoil in the virtual asset industry, people prefer to have clear regulations, which is why international exchanges come to Dubai to develop their business. Hong Kong and Dubai have very similar DNA, and the supervision of virtual assets in various regions does not need to be consistent, but the coordination between regulato...
Sean McHugh, a senior official at the Dubai Virtual Asset Regulatory Authority (VARA), said in an interview on Tuesday that the Dubai Virtual Asset Regulatory Authority believes it has struck the right balance in the timing of issuing licenses to cryptocurrency-related applicants, questioning any perception that the VARA is friendlier than the general cryptocurrency regulator. Over the past year, VARA has offered OKX, Crypto.com and...
The Dubai Virtual Assets Regulatory Authority (VARA), one of the regulators of the cryptocurrency industry in the United Arab Emirates, said it has fined seven cryptocurrency entities for operating without the required licenses and violating marketing regulations. VARA did not name the entities and said it was investigating them with the local government. The fines for each entity ranged from 50,000 dirhams (about $13,600) to 100,000 dirhams.
Thailand's Securities and Exchange Commission (SEC) launched a digital asset regulatory sandbox on August 9. The sandbox is designed to facilitate experimentation and development of new digital asset services. "Interested parties are invited to participate in the sandbox to test its digital asset-related services and promote innovative development of capital markets within a flexible regulatory framework," the announcement noted, adding that the sandbox was officially launched today.
Binance announced that it has been granted a Virtual Asset Service Provider (VASP) license by the Dubai Virtual Assets Regulatory Authority (VARA) for local exchange Binance FZE located in Dubai. All UAE residents' accounts will be transferred from Binance Global Exchange to the VARA-regulated Binance FZE exchange.