ENFORCEMENT

Unlicensed Virtual Asset Service Providers [VASPs]

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.

Entities

To ensure your safety, please verify the licensing status of any VASP before engaging in transactions. VARA continues to take strict enforcement actions against unlicensed providers, ensuring that Dubai remains a secure global hub for virtual assets.

The table below details VASPs suspected or found to engage in virtual asset or marketing activities without the appropriate licence(s) in place.

A to Z Globe DMCC2025/01/02
AirDance Global FZCO2025/03/13
Almizan Alfedhi Payment Service Provider L.L.C2025/01/02
Binalex Point Payment Services Provider L.L.C. and Binalex Capital FZCO2025/01/02
Bitay Limited Co. Ltd and Bitay Teknoloji Sanayi Ticaret Anonim Şirketi (together “Bitay”)2023/10/13
Blueaxis Commercial Brokers LLC2025/03/13
BTC BAY PAYMENT SERVICES PROVIDER LLC2024/09/03
Coin Aska DMCC ("Coin Aska")2025/03/13
Coin Swapz Trading DMCC2025/01/02
COINCASHY COMMERCIAL BROKERS LLC2024/08/23
Coinsbooth Payment Services Co L.L.C2025/03/13
Crypto Desk Exchange Services L.L.C2025/01/02
CRYPTO FORCE DMCC2024/08/23
Crypto Home DMCC2025/01/02
CryptoHome Payment Services Provider L.L.C2025/01/02
EA WORLD LLC- FZ2025/04/17
FINCHAIN PAYMENT SERVICE PROVIDER LLC2024/08/23
FINCHAIN TECHNOLOGIES DMCC2024/08/23
Gleec DMCC2025/05/15
Hatom Labs FZCO2025/05/06
Hokk Finance FZCO2025/05/06
I Teller Commercial Brokers L.L.C2025/03/13
JP-ex Crypto Asset Platform Pty Ltd AND JPEX Technical Support Co. Pty Ltd (TOGETHER “JPEX”)2023/10/26
KOTO CRYPTO DMCC2024/08/23
MarinaCoins Technologies L.L.C2025/03/13
Mastercoin DMCC2025/03/13
Mercy Crypto DMCC2025/03/13
Mkan Coin DMCC2025/01/02
MyArbit L.L.C-FZ2025/03/13
Open Technology Markets Ltd. (trading as OPNX and opnx.com)2023/04/12
Shelbit General Trading L.L.C2025/01/02
Shenzhou Crypto DMCC and Shenzhou Crypto DMCC REP. OFFICE2025/02/03
STABIT DMCC2024/08/23
The Cryptoverse Technologies Est2025/01/02
Tirupati Capitals FZCO ("Paycio")2025/03/13
UAEC Digital Fintech FZCO2025/08/27
UEEX Technology Ltd and UEEX Technology Services LLC2025/05/15