Dubai Authorities Issue a Cease and Desist Order to Cryptocurrency Exchange KuCoin

Cease and Desist Order Issued to KuCoin

The Virtual Asset Regulatory Authority (VARA) of Dubai announced on the 5th that it has ordered cryptocurrency exchange KuCoin to cease all unapproved crypto operations.

VARA claims that KuCoin has been operating in Dubai without obtaining the necessary regulatory approvals and has been falsifying its licensing status. The authority has advised consumers and investors in Dubai not to use KuCoin's services.

According to KuCoin's official website, the company operates globally...