The post Dubai Regulator VARA Issues Cease and Desist Orders to 2 Crypto Exchanges appeared on BitcoinEthereumNews.com. Home » Crypto News The local regulator The post Dubai Regulator VARA Issues Cease and Desist Orders to 2 Crypto Exchanges appeared on BitcoinEthereumNews.com. Home » Crypto News The local regulator

Dubai Regulator VARA Issues Cease and Desist Orders to 2 Crypto Exchanges

For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com

Home » Crypto News


The local regulator said the two exchanges have been offering trading services without the necessary approval.

‘;
}
function loadTrinityPlayer(targetWrapper, theme,extras=””) {
cleanupPlayer(targetWrapper); // Always clean first ✅
targetWrapper.classList.add(‘played’);
// Create script
const scriptEl = document.createElement(“script”);
scriptEl.setAttribute(“fetchpriority”, “high”);
scriptEl.setAttribute(“charset”, “UTF-8”);
const scriptURL = new URL(`https://trinitymedia.ai/player/trinity/2900019254/?themeAppearance=${theme}${extras}`);
scriptURL.searchParams.set(“pageURL”, window.location.href);
scriptEl.src = scriptURL.toString();
// Insert player
const placeholder = targetWrapper.querySelector(“.add-before-this”);
placeholder.parentNode.insertBefore(scriptEl, placeholder.nextSibling);
}
function getTheme() {
return document.body.classList.contains(“dark”) ? “dark” : “light”;
}
// Initial Load for Desktop
if (window.innerWidth > 768) {
const desktopBtn = document.getElementById(“desktopPlayBtn”);
if (desktopBtn) {
desktopBtn.addEventListener(“click”, function () {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if (desktopWrapper) loadTrinityPlayer(desktopWrapper, getTheme(),’&autoplay=1′);
});
}
}
// Mobile Button Click
const mobileBtn = document.getElementById(“mobilePlayBtn”);
if (mobileBtn) {
mobileBtn.addEventListener(“click”, function () {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if (mobileWrapper) loadTrinityPlayer(mobileWrapper, getTheme(),’&autoplay=1′);
});
}
function reInitButton(container,html){
container.innerHTML = ” + html;
}
// Theme switcher
const destroyButton = document.getElementById(“checkbox”);
if (destroyButton) {
destroyButton.addEventListener(“click”, () => {
setTimeout(() => {
const theme = getTheme();
if (window.innerWidth > 768) {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if(desktopWrapper.classList.contains(‘played’)){
loadTrinityPlayer(desktopWrapper, theme,’&autoplay=1′);
}else{
reInitButton(desktopWrapper,’Listen‘)
const desktopBtn = document.getElementById(“desktopPlayBtn”);
if (desktopBtn) {
desktopBtn.addEventListener(“click”, function () {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if (desktopWrapper) loadTrinityPlayer(desktopWrapper,theme,’&autoplay=1’);
});
}
}
} else {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if(mobileWrapper.classList.contains(‘played’)){
loadTrinityPlayer(mobileWrapper, theme,’&autoplay=1′);
}else{
const mobileBtn = document.getElementById(“mobilePlayBtn”);
if (mobileBtn) {
mobileBtn.addEventListener(“click”, function () {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if (mobileWrapper) loadTrinityPlayer(mobileWrapper,theme,’&autoplay=1′);
});
}
}
}
}, 100);
});
}
})();


Summarize with AI


Summarize with AI

The Virtual Asset Regulatory Authority (VARA), which is the main watchdog for cryptocurrency-related businesses in Dubai, has issued a formal cease and desist order to KuCoin and MEXC.

The regulator argued that it had come to its attention that the popular trading platforms “may be providing Virtual Asset activities to Dubai residents without the necessary regulatory approvals and misrepresenting” their legal statuses.

Aside from the cease and desist issued to all unlicensed VA activities, the official statement on KuCoin reads that investors and consumers must be aware of the potential risks.

It reasserted that KuCoin does not hold any license to provide crypto services in or from Dubai, which means that all such activities advertised or conducted by the exchange were “therefore in breach of the VARA Regulations.”

Dubai’s VARA introduced the comprehensive regulatory framework four years ago and requires all service providers to be licensed to operate legally in the jurisdiction.

A day before this notice against KuCoin, the regulator issued a similar alert against one of its competitors – MEXC. The message was identical, instructing a cease and desist order on all of its activities in and from Dubai.

SPECIAL OFFER (Exclusive)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Source: https://cryptopotato.com/dubai-regulator-vara-issues-cease-and-desist-orders-to-2-crypto-exchanges/

Market Opportunity
Ucan fix life in1day Logo
Ucan fix life in1day Price(1)
$0.0004861
$0.0004861$0.0004861
-6.78%
USD
Ucan fix life in1day (1) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.