Dubai regulator orders KuCoin entities to stop unlicensed operations

The Virtual Assets Regulatory Authority (VARA) of Dubai has issued a formal cease-and-desist order against entities associated with the cryptocurrency exchange KuCoin. According to the regulator, KuCoin has been providing virtual asset services and targeting residents in the jurisdiction without the necessary licenses or legal authorizations. Specifically, VARA identified Mek Global Limited as the entity operating in violation of local regulations. The authority has instructed KuCoin to immediately halt all unauthorized activities and promotional efforts within Dubai. This enforcement action underscores the UAE’s commitment to maintaining a strictly regulated digital asset environment and protecting investors from risks associated with unlicensed financial service providers.

Source: Dubai regulator orders KuCoin entities to stop unlicensed operations