Dubai cracks down on unlicensed crypto firms as UAE reinforces global crypto hub status

Dubai’s VARA fines 19 crypto firms for operating without proper licenses. Penalties range from AED 100,000 to AED 600,000 with immediate cease orders. VARA and SCA’s partnership ensures unified rules across the country’s digital asset market. The United Arab Emirates is reinforcing its position as a global crypto hub—but not without rules source: https://coinjournal.net/news/dubai-cracks-down-on-unlicensed-crypto-firms-as-uae-reinforces-global-crypto-hub-status/