Dubai crypto watchdog fines 19 unlicensed firms up to $163,000

Following investigations, VARA’s Enforcement Division issued cease-and-desist orders and fines ranging from AED100,000 ($27,000) to AED600,000 ($163,000), depending on the seriousness and scope of each violation.

The regulator said the penalties target companies conducting unlicensed virtual-asset activities and those failing to comply with VARA’s Marketing Regulations.

Dubai crypto fines

The actions form part of a strengthened enforcement programme designed to protect the integrity of Dubai’s rapidly expanding virtual-asset ecosystem.

Virtual Assets Regulatory Authority said the announcement serves as a reminder to consumers, investors and institutions that engaging with unlicensed entities poses significant financial, legal and reputational risks.

VARA authorises only formally licensed companies to provide virtual-asset services in or from Dubai.

The VARA Regulatory Affairs and Enforcement Division said: “Enforcement is a critical component of maintaining trust and stability in Dubai’s Virtual Asset ecosystem.

“These actions reinforce VARA’s mandate: to ensure that only firms meeting the highest standards of compliance and governance are permitted to operate. Unlicensed activity and unauthorised marketing will not be tolerated. VARA will continue to take proactive measures to uphold transparency, safeguard investors, and preserve market integrity.”

VARA eyes transparency

VARA ordered all penalised companies to halt operations immediately and stop promoting unlicensed virtual-asset services.

VARA said it remains committed to creating a transparent and resilient virtual-asset marketplace through a licensing regime that balances innovation with robust investor safeguards.

The regulator continues to identify and investigate unlicensed activity, signalling a clear warning that Dubai’s crypto sector will operate under strict compliance oversight.