Dubai's Virtual Asset Regulatory Authority (VARA) has given a new deadline for crypto-related businesses to obtain their licenses. VARA wants all digital asset service providers to be licensed by November 17. This applies to firms that have not yet submitted their applications or missed notifications. The regulatory body warns that failure to meet licensing requirements will result in enforcement actions. VARA previously set August 31 as the deadline, but some businesses have not complied. The regulations provide certainty and financial security to investors in Dubai. VARA has already issued licenses to several virtual asset service providers that comply with the regulations, including WadzPay, Backpack, and Komainu. Binance, the world's largest crypto exchange, also secured an operational license from VARA.
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