UAE Crypto Licensing Timeline (VARA, CBUAE)

Key dates for Dubai's VARA regime, its enforcement actions and the UAE central bank law, from official sources.

1. 19 Sep 2022VARA

   Binance Gets a VARA MVP Licence

   VARA says it was established in March 2022 under Law No. 4 of 2022.

   Source: VARA official

2. 22 Nov 2022Enforcement

   FTX MENA Approval Revoked

   VARA revokes FTX Exchange FZE's MVP approval (as of 10 November 2022) and suspends the licence.

   Source: VARA official

3. 7 Feb 2023Law

   VARA Regulations 2023 Issued

   The regulations set out seven licensed activities; VARA's current list has eight.

   Source: VARA official

4. 18 Jul 2023Law

   SCA: Dubai Firms Licensed Only by VARA

   The SCA says firms in Dubai need only a VARA licence, and VARA will inform the SCA for a unified register.

   Source: VARA / WAM official

5. 28 Jul 2023VARA

   Earliest Licence Still on the Register

   Laser Digital Middle East FZE.

   Source: VARA official

6. 16 Aug 2023Enforcement

   OPNX Fined AED 10 Million

   Fine issued on 2 May 2023 for a market offence; unpaid at publication.

   Source: VARA official

7. 17 Nov 2023Deadline

   Deadline to Engage With VARA

   18 mainland VASPs had been fined for not complying; VARA warned of further fines and closures.

   Source: VARA, VARA official

8. 9 Oct 2024Enforcement

   7 Unlicensed Firms Fined

   Cease-and-desist orders and fines of AED 50,000 to 100,000 per entity.

   Source: VARA official

9. 16 Sep 2025Law

   CBUAE Law in Force

   Federal Decree-Law No. 6 of 2025 takes effect.

   Source: CBUAE Rulebook official

10. 7 Oct 2025Enforcement

    19 Unlicensed Firms Fined

    Fines from AED 100,000 to AED 600,000 and cease-and-desist orders.

    Source: VARA official

11. 5 Mar 2026Enforcement

    Alerts on MEXC and KuCoin

    VARA says neither holds a licence to provide VA services in or from Dubai.

    Source: VARA, VARA official

12. 22 Jun 2026Enforcement

    MEXC Entity Fined

    MX Global LTD fined for unlicensed services to Dubai customers from 2022 to April 2026.

    Source: VARA official

13. 24 Jun 2026Enforcement

    KuCoin Entity Fined

    Peken Global Limited fined for unlicensed services to Dubai customers.

    Source: VARA official

14. 16 Sep 2026Deadline

    CBUAE One-Year Transition Ends

    End of the period to bring positions into line under Art. 184, unless the CBUAE Board extended it.

    Source: CBUAE Rulebook official

15. 6 Oct 2026VARA

    Latest Licence: Kraken

    Most recent issue date on VARA's register.

    Source: VARA official

Firm-level licence dates are on each firm page. Licences no longer active are not on VARA's register.