The post Dubai Regulator Orders KuCoin to Halt All Operations, Cites Unlicensed Activity appeared on BitcoinEthereumNews.com.

Crime Dubai’s Virtual Assets Regulatory Authority (VARA) has moved against multiple entities operating under the KuCoin brand, ordering them to immediately cease all virtual asset activities in the emirate after finding they had been serving local residents without the required regulatory approval. Key Takeaways Dubai’s VARA issued a cease and desist against KuCoin entities for operating without a license KuCoin allegedly misrepresented its regulatory status in the emirate Dubai users face no consumer protections and potential legal risk if they continue using the platform KuCoin is now facing regulatory crackdowns across the U.S., Europe, and Canada The enforcement notice names four entities – Phoenixfin Pte Ltd, MEK Global Limited, Peken Global Limited, and KuCoin Exchange EU GmbH — and prohibits all marketing, advertising, and solicitation tied to the KuCoin brand within Dubai. VARA also alleged that KuCoin misrepresented its licensing status to users in the jurisdiction, a charge that compounds the severity of the regulatory breach. What the Law Requires Under Dubai Law No. (4) of 2022 and Cabinet Resolution No. 111/2022, all virtual asset service providers must hold a valid VARA license to operate. KuCoin held none. The action fits a broader enforcement pattern that has been accelerating across the UAE. In 2025, VARA sanctioned 19 firms for similar unlicensed operations, with fines ranging from AED 100,000 to AED 600,000. The stakes have since risen sharply. Federal Decree No. 6 of 2025 introduced tougher penalties for unlicensed financial activity, including potential imprisonment and fines reaching 500 million dirhams. What This Means for Dubai Users For Dubai-based KuCoin users, the consequences are immediate and carry real risk. All unlicensed trading, deposit activity, and platform use must stop. More significantly, because KuCoin never secured VARA approval, local users have no access to the investor protections or dispute resolution mechanisms available to…

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Filed under: News - @ March 7, 2026 7:08 am