Date: 10 July 2023
VARA is issuing this market alert regarding ongoing supervisory controls, and enforcement actions initiated against BitOasis [Reference: MVP/VARA/BITOASIS]. Investors and Consumers are advised to note:
MVP Operational Licence [Licence] Conditions: BitOasis is under review for not meeting mandated conditions, required to be satisfied within 30-60 day timeframes prior to being permitted to undertake any VARA regulated market activity, subsequent to the issuance of its Licence for Institutional and Qualified Retail Investors, on 12.April.2023.
Virtual Assets and Related Activities Regulations 2023 [Law No. 4]: VARA is exercising its authority to supervise and monitor compliance, assure fulfilment of prescribed conditions, impose remedial measures, and take necessary enforcement actions, including but not limited to holding BitOasis’ Licence status as non-operational.
VARA shall continue to monitor the situation for regulatory compliance remediation.
This ALERT represents a notification to the public regarding BitOasis’ regulatory licence status, and is not intended to be a substitute for any individuals’ own due diligence. For avoidance of doubt, please seek independent, professional advice.