Dubai’s VARA orders MEXC and KuCoin to halt unlicensed virtual asset services

Dubai’s Virtual Assets Regulatory Authority has instructed MEXC, KuCoin, and their affiliates to stop all unlicensed crypto activities in the emirate, warning users of potential financial and legal risks. The enforcement actions, issued on Thursday and Friday, come amid surging crypto flows in the wider region and growing concerns over Iran’s increasing use of digital assets to bypass U.S. sanctions.