Investor Alert: Dubai Regulator VARA Flags Unlicensed MKAN Coin Platform

The Virtual Assets Regulatory Authority (VARA) has issued an alert regarding MKAN Coin DMCC, which advertised virtual asset activities in the United Arab Emirates (UAE) without the necessary regulatory approval. VARA has instructed the company to cease all unlicensed operations and imposed a fine. The regulator said MKAN Coin’s activities expose users to significant financial risks and potential legal consequences. Dubai Law No. 4 of 2022 and Cabinet Resolution No. 111 of 2022 require all virtual asset service providers to be licensed to operate legally, and MKAN Coin does not meet these requirements. VARA has not approved any promotions or advertisements related to MKAN Coin, prohibiting it from offering or marketing virtual asset products or services in Dubai.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到[email protected]，本平台相关工作人员将会进行核查。