Dubai’s Virtual Assets Regulatory Authority [VARA] is committed to maintaining a safe, transparent, and compliant virtual asset ecosystem. Only entities licensed by VARA are authorised to operate and offer virtual asset services within Dubai. Engaging with unlicensed VASPs exposes consumers and investors to significant financial risks, including fraud and loss of assets.
The table below details VASPs suspected or found to engage in virtual asset or marketing activities without the appropriate licence(s) in place.
| Full Name of Entity | Date |
|---|---|
| FINCHAIN TECHNOLOGIES DMCC | 2024/08/23 |
| FINCHAIN PAYMENT SERVICE PROVIDER LLC | 2024/08/23 |
| COINCASHY COMMERCIAL BROKERS LLC | 2024/08/23 |
| CRYPTO FORCE DMCC | 2024/08/23 |
| STABIT DMCC | 2024/08/23 |
| BTC BAY PAYMENT SERVICES PROVIDER LLC | 2024/09/03 |
| KOTO CRYPTO DMCC | 2024/08/23 |
| JP-ex Crypto Asset Platform Pty Ltd AND JPEX Technical Support Co. Pty Ltd (TOGETHER “JPEX”) | 2023/10/26 |
| Bitay Limited Co. Ltd and Bitay Teknoloji Sanayi Ticaret Anonim Şirketi (together “Bitay”) | 2023/10/13 |
| Open Technology Markets Ltd. (trading as OPNX and opnx.com) | 2023/04/12 |
| A to Z Globe DMCC | 2025/01/02 |
| Almizan Alfedhi Payment Service Provider L.L.C | 2025/01/02 |
| Binalex Point Payment Services Provider L.L.C. and Binalex Capital FZCO | 2025/01/02 |
| Mkan Coin DMCC | 2025/01/02 |
| Coins Swapz Trading DMCC | 2025/01/02 |
| Crypto Desk Exchange Services L.L.C | 2025/01/02 |
| The Cryptoverse Technologies Est | 2025/01/02 |
| CryptoHome Payment Services Provider L.L.C | 2025/01/02 |
| Crypto Home DMCC | 2025/01/02 |
| Shelbit General Trading L.L.C | 2025/01/02 |
| Shenzhou Crypto DMCC and Shenzhou Crypto DMCC REP. OFFICE | 2025/02/03 |