🚨 SHOCKWAVE: Dubai VARA Fines 19 Crypto Firms — TON DLT Named
Dubai’s Virtual Assets Regulatory Authority (VARA) has issued six-figure fines and cease-and-desist orders to 19 unlicensed crypto companies, including TON DLT Foundation.
Fines range from AED 100K–600K ($27K–$163K) for operating outside Dubai’s regulatory perimeter and breaching marketing rules. The message is loud and clear — no license, no business.
💡 Why It Matters
This isn’t a market crash — it’s a compliance shockwave. Dubai is tightening its grip to prove it’s a regulation-first global crypto hub.
Short term: the move chills speculative activity and slows liquidity inflows.
Long term: it builds credibility for institutional capital.
In other words Dubai wants money, not regulatory risk.
Still this shocked the market with bearish pressure.
