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Dear crypto enthusiasts!!! 🚀
You can safely buy #ISLM coin as the issue with the #UAE regulatory authority #VARA has been resolved in the legal field, which allows residents of the country to purchase this crypto asset. And just think what kind of crazy capital will go into this project in this country 🌍
Do not miss your moment!!! ⏳
#CryptoTrends2024
$SYS $USTC $SUI
You can safely buy #ISLM coin as the issue with the #UAE regulatory authority #VARA has been resolved in the legal field, which allows residents of the country to purchase this crypto asset. And just think what kind of crazy capital will go into this project in this country 🌍
Do not miss your moment!!! ⏳
#CryptoTrends2024
$SYS $USTC $SUI
The delay in addressing the VARA situation, as acknowledged by the teams behind HAQQ and Islamic Coin, stems not from evasion but from a commitment to comprehensively understand the intricacies surrounding it. The deliberate approach taken underscores a dedication to accuracy and fairness in communication, urging all entities in the WEB3 market to avoid hasty or baseless accusations.
Embracing Regulatory Evolution
Recognizing the dynamic nature of cryptocurrency and Web3, both projects emphasize their commitment to leading with innovation, integrity and adherence to regulatory standards. The teams boast a roster of experienced executives and advisors who diligently work to align operations with evolving guidelines. The evolving regulatory landscape is seen not as a hindrance but as a natural progression, allowing for scrutiny and refinement of standards in both new and mature projects.
Exploring Boundaries
During transitional periods, regulatory bodies often take an exploratory approach, engaging with existing projects to understand and define the boundaries of new guidelines. HAQQ and Islamic Coin acknowledge and respect this process, recognizing that any discrepancies that may arise are not indicative of an intent to sidestep regulations, but rather a reflection of the industry's growing pains.
Commitment to Transparency
Islamic Coin remains steadfast in its dedication to its mission and community. The commitment to addressing regulatory inquiries with transparency and determination reassures stakeholders that the projects are navigating these challenges with professionalism and care. The community is urged to remain confident in the robust foundation, clear intentions, and unwavering commitment of Islamic Coin.
Looking Ahead
In the coming weeks, HAQQ and Islamic Coin promise more decisive updates and news, demonstrating their ongoing commitment to keeping the community informed. The reassurance to the community, partners, and stakeholders is clear – Islamic Coin is here to stay and the future holds promise for those who believe in their vision.
$ETH $BTC $INJ
Embracing Regulatory Evolution
Recognizing the dynamic nature of cryptocurrency and Web3, both projects emphasize their commitment to leading with innovation, integrity and adherence to regulatory standards. The teams boast a roster of experienced executives and advisors who diligently work to align operations with evolving guidelines. The evolving regulatory landscape is seen not as a hindrance but as a natural progression, allowing for scrutiny and refinement of standards in both new and mature projects.
Exploring Boundaries
During transitional periods, regulatory bodies often take an exploratory approach, engaging with existing projects to understand and define the boundaries of new guidelines. HAQQ and Islamic Coin acknowledge and respect this process, recognizing that any discrepancies that may arise are not indicative of an intent to sidestep regulations, but rather a reflection of the industry's growing pains.
Commitment to Transparency
Islamic Coin remains steadfast in its dedication to its mission and community. The commitment to addressing regulatory inquiries with transparency and determination reassures stakeholders that the projects are navigating these challenges with professionalism and care. The community is urged to remain confident in the robust foundation, clear intentions, and unwavering commitment of Islamic Coin.
Looking Ahead
In the coming weeks, HAQQ and Islamic Coin promise more decisive updates and news, demonstrating their ongoing commitment to keeping the community informed. The reassurance to the community, partners, and stakeholders is clear – Islamic Coin is here to stay and the future holds promise for those who believe in their vision.
$ETH $BTC $INJ
#VARA 's official decision on the #IslamicCoin Project 📄
Update: VARA Investor and Marketplace Alert - Bored Gen DMCC 🚨
16 NOV 2023
Following VARA's notice on 4 October 2023, concerning the enforcement action and ongoing investigation into the issuance, marketing, and distribution of Islamic Coin ( #ISLM ) by Bored Gen DMCC (BG) and its affiliates, investors and market participants are informed that the activities under VARA's investigation have concluded.
BG has actively addressed and facilitated matters identified in the investigation. VARA acknowledges BG's full cooperation during its review and the implementation of remedial measures, including enhanced public disclosures for market assurance. VARA views the investigated matters as primarily technical non-compliance.
BG must obtain VARA's approval before distributing ISLM in the Dubai market. Until approval is granted, domestic market promotion and access facilitation are not permitted. BG can continue non-VA business operations, maintaining regular engagement with VARA and full compliance with regulatory requirements.
Update - 29 December 2023:
Following the conclusion of VARA's investigation into Bored Gen DMCC ("BG") on 04.October.2023, BG will implement a corporate governance plan, separating its technology arm from the regulated entity. BG commits to providing VARA with regular progress reports until the plan is fully stabilized.
BG will undergo an approval process for tokens issued or distributed, seeking VARA's approval as deemed necessary. VARA will evaluate the ongoing need for this process at its discretion.
The case is considered satisfactorily resolved at this time. However, BG can only serve the Dubai market, including ISLM token distribution, after obtaining the necessary license or clearance from VARA.
Disclaimer:
This ALERT notifies the public of Bored Gen DMCC’s regulatory status and is not a substitute for individuals’ due diligence. Seek independent, professional advice for clarity. 🚀
#crypto2024 #BinanceWish
$ICP $ONT $ARB
Update: VARA Investor and Marketplace Alert - Bored Gen DMCC 🚨
16 NOV 2023
Following VARA's notice on 4 October 2023, concerning the enforcement action and ongoing investigation into the issuance, marketing, and distribution of Islamic Coin ( #ISLM ) by Bored Gen DMCC (BG) and its affiliates, investors and market participants are informed that the activities under VARA's investigation have concluded.
BG has actively addressed and facilitated matters identified in the investigation. VARA acknowledges BG's full cooperation during its review and the implementation of remedial measures, including enhanced public disclosures for market assurance. VARA views the investigated matters as primarily technical non-compliance.
BG must obtain VARA's approval before distributing ISLM in the Dubai market. Until approval is granted, domestic market promotion and access facilitation are not permitted. BG can continue non-VA business operations, maintaining regular engagement with VARA and full compliance with regulatory requirements.
Update - 29 December 2023:
Following the conclusion of VARA's investigation into Bored Gen DMCC ("BG") on 04.October.2023, BG will implement a corporate governance plan, separating its technology arm from the regulated entity. BG commits to providing VARA with regular progress reports until the plan is fully stabilized.
BG will undergo an approval process for tokens issued or distributed, seeking VARA's approval as deemed necessary. VARA will evaluate the ongoing need for this process at its discretion.
The case is considered satisfactorily resolved at this time. However, BG can only serve the Dubai market, including ISLM token distribution, after obtaining the necessary license or clearance from VARA.
Disclaimer:
This ALERT notifies the public of Bored Gen DMCC’s regulatory status and is not a substitute for individuals’ due diligence. Seek independent, professional advice for clarity. 🚀
#crypto2024 #BinanceWish
$ICP $ONT $ARB
🚨 Dubai Cracks Down on Unlicensed Crypto Companies! 🚨
Dubai’s Virtual Assets Regulatory Authority (VARA) has taken a strong stance against unregulated crypto firms, issuing significant fines and cease-and-desist orders to seven entities operating without the necessary licenses or violating marketing rules. Fines range from $13,600 to $27,200, sending a clear message that Dubai is serious about protecting its thriving crypto sector.
While VARA has not disclosed the names of the firms, the implications are unmistakable: play by the rules or face the consequences. This crackdown is not just about financial penalties; affected firms must halt all crypto activities and advertising until they comply with regulations.
To safeguard investors and enhance market integrity, VARA is urging the public to avoid unlicensed firms, warning about the legal and reputational risks involved with rogue players. Only licensed entities are permitted to offer virtual asset services in Dubai.
As part of its commitment to a transparent crypto market, VARA has tightened regulations on crypto marketing. Starting September 26, all promotional materials related to virtual assets must include a disclaimer about the volatility of crypto investments. VARA CEO Matthew White emphasized that these rules aim to foster transparency and trust within Dubai’s crypto ecosystem.
For industry participants, the message is clear: Dubai won’t tolerate non-compliance. VARA's dedication to creating a secure and transparent environment sets the stage for a regulated, trustworthy crypto market where only the most compliant firms will thrive.
Stay informed and compliant!
#DubaiCrypto #VARA #CryptoRegulation #BinanceNews #Write2Earn!
Dubai’s Virtual Assets Regulatory Authority (VARA) has taken a strong stance against unregulated crypto firms, issuing significant fines and cease-and-desist orders to seven entities operating without the necessary licenses or violating marketing rules. Fines range from $13,600 to $27,200, sending a clear message that Dubai is serious about protecting its thriving crypto sector.
While VARA has not disclosed the names of the firms, the implications are unmistakable: play by the rules or face the consequences. This crackdown is not just about financial penalties; affected firms must halt all crypto activities and advertising until they comply with regulations.
To safeguard investors and enhance market integrity, VARA is urging the public to avoid unlicensed firms, warning about the legal and reputational risks involved with rogue players. Only licensed entities are permitted to offer virtual asset services in Dubai.
As part of its commitment to a transparent crypto market, VARA has tightened regulations on crypto marketing. Starting September 26, all promotional materials related to virtual assets must include a disclaimer about the volatility of crypto investments. VARA CEO Matthew White emphasized that these rules aim to foster transparency and trust within Dubai’s crypto ecosystem.
For industry participants, the message is clear: Dubai won’t tolerate non-compliance. VARA's dedication to creating a secure and transparent environment sets the stage for a regulated, trustworthy crypto market where only the most compliant firms will thrive.
Stay informed and compliant!
#DubaiCrypto #VARA #CryptoRegulation #BinanceNews #Write2Earn!
#VARA 's recent update on December 29, 2023, sheds light on the progress regarding the #Islamiccoin investigation initially referenced in their notice about Bored Gen DMCC (BG) on October 4, 2023. BG has committed to implementing a corporate governance plan, aiming to separate its technology arm from its regulated entity.
In line with transparency, Islamic coin, a key player in this scenario, has pledged to furnish regular progress reports to VARA until the full stabilization of the separation plan. To ensure compliance and transparency, BG is willingly subjecting itself to an approval process. This process is designed to obtain VARA's necessary approval concerning the listing of tokens issued or distributed by BG.
Crucially, VARA retains the discretion to evaluate the ongoing need for this approval process. The resolution of this case is considered satisfactory as of now. It reflects a collaborative effort between VARA and BG, emphasizing the commitment to corporate governance and regulatory compliance.
This update provides stakeholders and interested parties with a clear overview of the steps taken and the collaborative approach adopted to address the initial concerns. As the situation stands, VARA's continued discretion in overseeing the process ensures a vigilant and adaptable approach to any evolving needs in the future.
#ISLM #BTC #ETH
In line with transparency, Islamic coin, a key player in this scenario, has pledged to furnish regular progress reports to VARA until the full stabilization of the separation plan. To ensure compliance and transparency, BG is willingly subjecting itself to an approval process. This process is designed to obtain VARA's necessary approval concerning the listing of tokens issued or distributed by BG.
Crucially, VARA retains the discretion to evaluate the ongoing need for this approval process. The resolution of this case is considered satisfactory as of now. It reflects a collaborative effort between VARA and BG, emphasizing the commitment to corporate governance and regulatory compliance.
This update provides stakeholders and interested parties with a clear overview of the steps taken and the collaborative approach adopted to address the initial concerns. As the situation stands, VARA's continued discretion in overseeing the process ensures a vigilant and adaptable approach to any evolving needs in the future.
#ISLM #BTC #ETH
The #Cardano Summit 2023 wrapped up with a focus on the potential positive impact of blockchain technology in the future.
Day 2 of the summit featured discussions about the practical applications of blockchain, with participation from organizations like the World Trade Organisation and UNHCR. Charles Hoskinson, the CEO of IOG, concluded the event by looking ahead to Cardano's future development.
The day began with a conversation about how blockchain can benefit businesses. Vanessa Zuabi from #VARA highlighted the challenge of regulatory adaptation to constant innovation and the need for regulations to encompass a wide range of innovations.
Genevieve Leveille of AgriLedger emphasized the potential for blockchain to authenticate the digital identity of products and its impact on geopolitics and local dynamics.
Emmanuelle Ganne from the World Trade Organisation discussed the use of blockchain in ESG (Environmental, Social, and #Governance ), pointing out the increasing acceptance of blockchain-based solutions to support reporting obligations.
Carmen Hett of the UNHCR spoke about the humanitarian applications of blockchain, highlighting the empowerment it offers to refugees through financial inclusion and digital literacy.
The summit concluded with a forward-looking discussion between Charles Hoskinson and J.J. Siler, IOG's Chief of Staff, who discussed Cardano's future. Siler mentioned the advanced decentralization demonstrated by the implementation of CIPs and other standards by the community members. Hoskinson noted that 2024 will focus on strengthening the community as the implementation of CIP-1694 continues.
Day 2 of the summit featured discussions about the practical applications of blockchain, with participation from organizations like the World Trade Organisation and UNHCR. Charles Hoskinson, the CEO of IOG, concluded the event by looking ahead to Cardano's future development.
The day began with a conversation about how blockchain can benefit businesses. Vanessa Zuabi from #VARA highlighted the challenge of regulatory adaptation to constant innovation and the need for regulations to encompass a wide range of innovations.
Genevieve Leveille of AgriLedger emphasized the potential for blockchain to authenticate the digital identity of products and its impact on geopolitics and local dynamics.
Emmanuelle Ganne from the World Trade Organisation discussed the use of blockchain in ESG (Environmental, Social, and #Governance ), pointing out the increasing acceptance of blockchain-based solutions to support reporting obligations.
Carmen Hett of the UNHCR spoke about the humanitarian applications of blockchain, highlighting the empowerment it offers to refugees through financial inclusion and digital literacy.
The summit concluded with a forward-looking discussion between Charles Hoskinson and J.J. Siler, IOG's Chief of Staff, who discussed Cardano's future. Siler mentioned the advanced decentralization demonstrated by the implementation of CIPs and other standards by the community members. Hoskinson noted that 2024 will focus on strengthening the community as the implementation of CIP-1694 continues.
Crypto Exchange Bybit Obtains Provisional Approval From Dubai’s Regulator VARA. #VARA
The exchange stressed this is "non-operational" approval but allows Bybit to move closer to obtaining a full VASP license. #VASP
Cryptocurrency exchange Bybit said it has taken a step toward strengthening its presence in Dubai by securing provisional approval from the Virtual Assets Regulatory Authority (VARA).
The exchange stressed this is “non-operational” approval but allows Bybit to move closer to obtaining a full Virtual Asset Service Provider (VASP) license. This will allow the company to offer virtual asset exchange services to retail, institutional, and qualified investors in Dubai.
Why Dubai? #Dubia
Dubai has emerged as an important location for cryptocurrency and blockchain firms due to its policies, regulatory clarity, and strategic positioning.
Bybit, which established its global headquarters in Dubai in 2022, has been an active participant in the city’s growing crypto ecosystem. #ecosystemgrowth
“Dubai’s strategic location, progressive policies, and innovation-driven environment offer unparalleled opportunities for businesses and investors in the cryptocurrency sector,” said Helen Liu, chief operating officer of Bybit.
“With its robust regulatory framework and commitment to becoming a blockchain capital, Dubai is the ideal place to advance digital currencies and foster growth in this exciting industry,” adds Liu. #Lui
$SOL
At a recent panel discussion during Korea Blockchain Week (KBW2024) Binance CEO Richard Teng praised Dubai and its regulatory framework for digital assets.
$BNB
Commenting on the Middle East, Teng pointed to innovative regulatory approaches in countries like Abu Dhabi, Bahrain, and Dubai. He praised Dubai’s establishment of VARA which is dedicated solely to overseeing the crypto industry.
The exchange stressed this is "non-operational" approval but allows Bybit to move closer to obtaining a full VASP license. #VASP
Cryptocurrency exchange Bybit said it has taken a step toward strengthening its presence in Dubai by securing provisional approval from the Virtual Assets Regulatory Authority (VARA).
The exchange stressed this is “non-operational” approval but allows Bybit to move closer to obtaining a full Virtual Asset Service Provider (VASP) license. This will allow the company to offer virtual asset exchange services to retail, institutional, and qualified investors in Dubai.
Why Dubai? #Dubia
Dubai has emerged as an important location for cryptocurrency and blockchain firms due to its policies, regulatory clarity, and strategic positioning.
Bybit, which established its global headquarters in Dubai in 2022, has been an active participant in the city’s growing crypto ecosystem. #ecosystemgrowth
“Dubai’s strategic location, progressive policies, and innovation-driven environment offer unparalleled opportunities for businesses and investors in the cryptocurrency sector,” said Helen Liu, chief operating officer of Bybit.
“With its robust regulatory framework and commitment to becoming a blockchain capital, Dubai is the ideal place to advance digital currencies and foster growth in this exciting industry,” adds Liu. #Lui
$SOL
At a recent panel discussion during Korea Blockchain Week (KBW2024) Binance CEO Richard Teng praised Dubai and its regulatory framework for digital assets.
$BNB
Commenting on the Middle East, Teng pointed to innovative regulatory approaches in countries like Abu Dhabi, Bahrain, and Dubai. He praised Dubai’s establishment of VARA which is dedicated solely to overseeing the crypto industry.
Dubai’s Sets New Deadline for Crypto Entities To Get Licensed
1. Dubai’s VARA said companies registered under a new legal framework have to finish their applications by November 17.
2. The virtual asset regulator said over 1,000 companies have filed to get licensed since April.
3 .VARA warned companies who fail to comply with the deadline risk enforcement actions.
#Dubai #Newrules
1. Dubai’s VARA said companies registered under a new legal framework have to finish their applications by November 17.
2. The virtual asset regulator said over 1,000 companies have filed to get licensed since April.
3 .VARA warned companies who fail to comply with the deadline risk enforcement actions.
#Dubai #Newrules
Recap today:
1. Société Générale teams up to launch a Euro-backed #stablecoin! 🌍 Compliant with MiCA regulations, it will be available on the #Bitpanda platform. 💶 #SociétéGénérale
2. Fractal Bitcoin open-sources its BRC-20 protocol, enabling easier development for #BRC20! More tools coming soon! 🔥 #Bitcoin
3. #PayPal now lets U.S. business accounts buy, sell, and trade #crypto directly! Available nationwide, except NY. 🔥 #PayPalBusiness
4. #Dubai's VARA enforces stricter rules for crypto ads, requiring clear disclaimers on volatility and loss of value. #VARA
5. Despite exiting Russia in 2023, #Binance still serves some Russian users, adhering to global sanctions.
6. #Ethena to launch a stablecoin backed by #BlackRock’s tokenized USD fund $BUIDL, ensuring stability during weak market conditions. 💰 #DEFİ
1. Société Générale teams up to launch a Euro-backed #stablecoin! 🌍 Compliant with MiCA regulations, it will be available on the #Bitpanda platform. 💶 #SociétéGénérale
2. Fractal Bitcoin open-sources its BRC-20 protocol, enabling easier development for #BRC20! More tools coming soon! 🔥 #Bitcoin
3. #PayPal now lets U.S. business accounts buy, sell, and trade #crypto directly! Available nationwide, except NY. 🔥 #PayPalBusiness
4. #Dubai's VARA enforces stricter rules for crypto ads, requiring clear disclaimers on volatility and loss of value. #VARA
5. Despite exiting Russia in 2023, #Binance still serves some Russian users, adhering to global sanctions.
6. #Ethena to launch a stablecoin backed by #BlackRock’s tokenized USD fund $BUIDL, ensuring stability during weak market conditions. 💰 #DEFİ
🇦🇪 The Dubai Virtual Asset Regulatory Authority (VARA) has mandated that cryptocurrency companies in Dubai submit license applications by November 17, as part of the new regulations governing Virtual Asset Service Providers (VASPs). 📑💼 #Dubai #CryptocurrencyRegulation #VARA #CryptoLicense
DAILY GAINERS
#SFM +44.6%
#VARA +37.3%
#LMWR +36.9%
$FIS +34.3%
#UNO +31.8%
$QRDO +31.6%
$RLY +30.8%
$RVN +30.2%
$WOZX +29.1%
$OLE +28.6%
#dailygainers
#SFM +44.6%
#VARA +37.3%
#LMWR +36.9%
$FIS +34.3%
#UNO +31.8%
$QRDO +31.6%
$RLY +30.8%
$RVN +30.2%
$WOZX +29.1%
$OLE +28.6%
#dailygainers
Dubai Regulator Orders 7 Unlicensed Crypto Exchanges to Stop Operations
The Dubai Virtual Assets Regulatory Authority (VARA) has taken action against seven unlicensed crypto entities for operating without licenses and violating marketing regulations. VARA has issued cease-and-desist orders and imposed fines on these entities. The regulator warned the public of the risks associated with dealing with unlicensed crypto businesses, emphasizing the potential for financial and reputational harm.
Protecting Crypto Investors
The Dubai Virtual Assets Regulatory Authority (#VARA ) has issued cease-and-desist orders against seven entities accused of operating without licenses and violating marketing regulations. In a warning issued on Oct. 9, VARA advised the public to avoid dealing with the unnamed and unlicensed virtual asset businesses.
VARA argued that dealing with such entities could expose users and institutions to financial and reputational risks, as well as potential legal consequences. The regulator added that it would continue to prioritize protecting consumers and investors.
Commenting on VARA’s latest enforcement action against unlicensed operators, the regulator’s Regulatory Affairs and Enforcement team said:
Our priority is to ensure that Dubai’s virtual assets ecosystem remains secure for consumers and investors while being a progressive environment for compliant entities. Market enforcement actions send a reinforcing message: VARA will not tolerate any attempts to operate without appropriate licenses, nor will we allow unauthorized marketing of virtual asset activities.
VARA added that its marketing #Regulations further emphasize #Dubai. 's commitment to ensuring #transparency and always protecting #stakeholders interests.
According to the regulator, the targeted entities have been fined amounts ranging from just over $13,600 to more than $27,000 each. VARA clarified that the severity of the penalties imposed was dependent on the nature and extent of the violations.
Meanwhile, the statement also revealed that VARA is conducting further investigations in conjunction with local authorities.
Protecting Crypto Investors
The Dubai Virtual Assets Regulatory Authority (#VARA ) has issued cease-and-desist orders against seven entities accused of operating without licenses and violating marketing regulations. In a warning issued on Oct. 9, VARA advised the public to avoid dealing with the unnamed and unlicensed virtual asset businesses.
VARA argued that dealing with such entities could expose users and institutions to financial and reputational risks, as well as potential legal consequences. The regulator added that it would continue to prioritize protecting consumers and investors.
Commenting on VARA’s latest enforcement action against unlicensed operators, the regulator’s Regulatory Affairs and Enforcement team said:
Our priority is to ensure that Dubai’s virtual assets ecosystem remains secure for consumers and investors while being a progressive environment for compliant entities. Market enforcement actions send a reinforcing message: VARA will not tolerate any attempts to operate without appropriate licenses, nor will we allow unauthorized marketing of virtual asset activities.
VARA added that its marketing #Regulations further emphasize #Dubai. 's commitment to ensuring #transparency and always protecting #stakeholders interests.
According to the regulator, the targeted entities have been fined amounts ranging from just over $13,600 to more than $27,000 each. VARA clarified that the severity of the penalties imposed was dependent on the nature and extent of the violations.
Meanwhile, the statement also revealed that VARA is conducting further investigations in conjunction with local authorities.