Dubai's Crypto Regulator Suspends BitOasis License for Failing to Meet Mandated Conditions

Dubai's cryptocurrency regulator, VARA, has suspended the license of BitOasis for failing to meet the required conditions within the specified timeframes. BitOasis was granted a conditional license on April 12, allowing it to operate if it met certain conditions within 30-60 days.

However, VARA did not disclose which conditions were not met. BitOasis will have to meet the conditions of its current license before it can apply for a Full Market Product license, according to VARA.

Dubai

Original Link

Comments

All Comments

Recommended for you

Cointime精选 ·

7 ICO alternatives for blockchain fundraising: Crypto airdrops, IDOs & more

Innovative blockhain fundraising methods according Flare Network, FUNToken, MixMob, Aethir, Upland, Undrgrnd and Sensay.
Cointime精选 ·

DeFi DAO introduces permissionless listings with AI enhancement

This decentralized finance platform seeks to help users navigate the DeFi landscape with AI and permissionless listings.
Cointime精选 ·

Q-Day approaching: Can Ethereum survive a quantum emergency?

Quantum computing is the next most significant disruptive technological leap and its rapid evolution and funding will soon make it a reality.
Cointime精选 ·

Crypto-to-crypto swaps, explained

Crypto-to-crypto swaps are the direct exchange of one cryptocurrency for another at the prevailing market rate. Unlike traditional exchanges, which would require fiat currency deposits and a longer process, crypto-to-crypto swaps facilitate the exchange seamlessly.
Cointime精选 ·

Gordon Goner on his dramatic health battles and Bored Apes turning 3

Bored Ape co-founder Wylie Aronow — also known as Gordon Goner online — struggled through a decade afflicted by an autoimmune disease before recovering to launch the world’s hottest NFT project three years ago this week.
Hong Kong Securities Regulatory Commission: China Ecological Tourism Group's acquisition of a blockchain company was improper and disciplinary action has been taken

The Securities and Futures Commission (SFC) of Hong Kong has announced that it has taken disciplinary action against China Ecotourism Group Limited (China Ecotourism) and its seven current and former directors in collaboration with the Hong Kong Stock Exchange (HKEX). The investigation mainly focused on improper conduct, including granting 13 loans totaling HKD363 million and RMB91 million to nine borrowers, and acquiring a 37.5% stake in a blockchain technology company for HKD35 million.
If a Hong Kong spot virtual asset ETF is sold at a premium, it can be converted into Hong Kong dollars on the Hong Kong Stock Exchange

Currently only a few Hong Kong brokers with virtual asset retail licenses can subscribe to the Hong Kong Bitcoin ETF through the new share subscription method (PD/distributor), and after the ETF officially enters the Hong Kong Stock Exchange, all hundreds of Hong Kong brokers and banks can purchase it. The approved virtual asset ETF adopts the performance of the ChiNext CF Bitcoin Index (Asia-Pacific closing price), so the profit and loss risks of cash subscription for Bitcoin ETF are basically the same as those of directly buying Bitcoin. As the exchange ratio between Bitcoin and Bitcoin ETF is fixed, if physical subscription is used in the IOP stage, that is, Bitcoin is used to subscribe to Bitcoin ETF, the relevant ETF can be exchanged for Hong Kong dollars in the exchange if it is sold at a premium after listing, and then buy back Bitcoin at the same time to earn the price difference between on-exchange and off-exchange. (Finance News Agency)
SEC sues Bitcoin mining company Geosyn, accusing its founder of $5.6 million fraud

On April 26th, the US SEC filed a lawsuit against bitcoin mining company Geosyn Mining and its co-founders, accusing them of falsely reporting the number of cryptocurrency mining equipment in operation and using customer funds for personal expenses, resulting in a $5.6 million investment fraud.
Hong Kong Stock Exchange to Start Trading Harvest Fund’s Bitcoin and Ethereum Spot ETFs on April 30

The Hong Kong Stock Exchange will begin trading Harvest's Bitcoin and Ethereum spot ETFs on April 30.
UK law enforcement agencies can now confiscate crime-related crypto assets without conviction

The UK Home Office announced in a press release on Friday that new powers to seize cryptocurrencies used in crimes have come into effect. The Home Office stated that due to these new regulations, police in the country will no longer need to make an arrest before seizing cryptocurrency holdings, making it easier to seize assets known to have been obtained through criminal means, even if seasoned criminals are able to protect their anonymity or are located overseas.