Dubai Virtual Asset Regulatory Authority (VARA) has suspended the license of BitOasis, a cryptocurrency exchange operating in the Middle East.
Dubai Virtual Asset Regulatory Authority (VARA) 10 July In the announcement published on its official website on April Cryptocurrency exchange that received operating permission from the regulator to BitOasis for not meeting licensing requirements. issued the condemnation.
BitOasis VARA by held before starting any market activity 30 to 60 day timeframes for not fulfilling the conditions that must be met in reported to have been under scrutiny.
In the country Limited Activity License (MVP) found BitOasis As a result of the examinations, the possibility of losing the operating license was emphasized with the following statements:
Within the scope of its mandate, VARA will take measures such as invalidating BitOasis’ license by performing actions such as monitoring and monitoring compliance, ensuring that the specified conditions are met, remedial methods and necessary sanctions are implemented.
VARA, bankrupt Three Arrows Capital (3AC) founders Zu Shu And Kyle Davies Cryptocurrency exchange founded by OPNX He also issued a condemnation against him in May last year.