Dubai regulator orders KuCoin to halt unlicensed services

Dubai's Virtual Assets Regulatory Authority (VARA) has ordered the operator of KuCoin to stop providing unlicensed cryptocurrency services. According to Cointelegraph, VARA warned that KuCoin is not authorized to offer crypto services locally and that all related promotions and advertisements are unapproved. The regulator also noted that entities advertised under the KuCoin name, including MEK Global, PhoenixFin, and Peken Global, appear to be offering crypto-related services in the region by misrepresenting their licensing status.