2025-10-08 Wednesday

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Dubai’s VARA Cracks Down on Unlicensed Crypto Operators

Dubai’s VARA Cracks Down on Unlicensed Crypto Operators

The post Dubai’s VARA Cracks Down on Unlicensed Crypto Operators appeared on BitcoinEthereumNews.com. VARA penalized 19 unlicensed digital assets firms in Dubai. All penalized firms are to cease operations immediately, in addition to fines. VARA warned stakeholders against patronizing unlicensed virtual asset companies. Dubai’s Virtual Assets Regulatory Authority (VARA) has sanctioned 19 firms for operating without due licenses within its region. Following an investigation, VARA confirmed breaches of its Marketing and Promotion Regulations and issued cease-and-desist orders alongside financial penalties. Each violation carried fines between AED 100,000 and AED 600,000, depending on the scope of activity and level of non-compliance. Cease-and-Desist Orders and Investor Warning The regulator directed the affected companies to halt operations immediately and warned investors to avoid engaging with any unlicensed virtual-asset service providers. Meanwhile, VARA has informed the public that its activities toward scrutinizing the operations of digital asset firms are an ongoing concern. The agency’s enforcement division has promised to be proactive in identifying defaulters of its regulatory conditions and follow up with immediate actions. Beware of illegal Virtual Asset Operators in Dubai It is worth noting that, besides informing the public about developments within its ecosystem, VARA considers announcing the outcome of the latest investigation and the decision taken as a warning to operators in Dubai. It also serves as a reminder to consumers, investors, and institutions engaging with unlicensed operators, highlighting the significant financial, legal, and reputational risks associated with the process.  Related: Dubai’s VARA Fines Morpheus for AML and Internal Compliance Failures In the meantime, VARA has informed the public that only entities holding its license can provide virtual asset services in and from Dubai. According to the agency, enforcing its standards is a critical component of maintaining trust and stability in Dubai’s Virtual Asset ecosystem. It is a move that aligns with its mandate, which is to ensure that only firms meeting the highest…
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BitcoinEthereumNews2025/10/08 05:05
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Why Zero Knowledge Proof (ZKP) Whitelist Could Be the Next Ethereum Moment

Why Zero Knowledge Proof (ZKP) Whitelist Could Be the Next Ethereum Moment

The post Why Zero Knowledge Proof (ZKP) Whitelist Could Be the Next Ethereum Moment appeared on BitcoinEthereumNews.com. Crypto News Secure early access now. The Zero Knowledge Proof (ZKP) whitelist is opening soon, echoing Ethereum’s early entry window with privacy, scalability, and enterprise-ready infrastructure. When Ethereum was first introduced, very few outside of core developers and early believers could see its potential. Those who entered during its earliest stages had the chance to secure a position before the technology became the backbone of decentralized finance, NFTs, and enterprise applications. Today, a similar moment is unfolding with Zero Knowledge Proof (ZKP). The whitelist for early access is about to open, giving participants a rare chance to join before large players dominate the ecosystem. This opportunity signals a turning point: just as Ethereum’s smart contracts unlocked an entirely new market, ZKP is preparing to make blockchain private, scalable, and enterprise-ready. Learning from Ethereum’s Early Cycle Ethereum’s rise wasn’t overnight. In 2015, it introduced smart contracts, which transformed blockchain from a simple ledger into a programmable platform. Early adopters often recall how ETH tokens were accessible at prices that later seemed unimaginable once institutions and enterprises entered the picture. That entry window didn’t last long. Within a few years, Ethereum’s ecosystem became the foundation of DeFi, NFTs, DAOs, and more. Now the parallel is clear. Zero Knowledge Proof (ZKP) is opening its whitelist stage at a time when privacy and scalability are the industry’s biggest challenges. Like Ethereum, it isn’t offering a single product or side-feature; it is laying the groundwork for a complete ecosystem. Key parallels to note: Ethereum’s defining feature: smart contracts. ZKP’s defining feature: verifiable privacy + scalability. Ethereum provided programmability; ZKP adds confidentiality and compliance-readiness. For investors, these parallels mark the whitelist opening as a critical signal. Every blockchain has a moment where it transitions from potential to infrastructure. ZKP is now at that threshold. What Makes…
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BitcoinEthereumNews2025/10/08 05:03
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Vietnam Limits Crypto Pilot to Five Licensed Exchanges

Vietnam Limits Crypto Pilot to Five Licensed Exchanges

The post Vietnam Limits Crypto Pilot to Five Licensed Exchanges appeared on BitcoinEthereumNews.com. Vietnam limits crypto pilot to five exchanges, ensuring strict regulatory oversight. Vietnam’s crypto adoption ranks high, but legal protection remains unregulated. Vietnam’s cautious approach contrasts with stronger crypto regulations in Singapore, Japan. Vietnam’s Ministry of Finance confirmed plans to start a cryptocurrency-exchange pilot program that will include no more than five licensed operators. Deputy Finance Minister Nguyen Duc Chi said the move is part of a controlled rollout to evaluate market risks and investor protection before full legalization. He noted that no official proposals have been submitted yet but stressed that participants must meet capital, compliance, and consumer-protection requirements to qualify. Framework Focuses on AML and Investor Safety Officials plan to issue rules covering anti-money-laundering (AML) checks, capital adequacy, and consumer disclosure obligations. Those rules will serve as a template for how future licensed exchanges operate once Vietnam moves beyond the test phase. Chi described the pilot as a necessary step to balance innovation with supervision while integrating digital-asset trading into Vietnam’s formal economy. Vietnam’s Crypto Adoption Ranks Among World’s Highest Vietnam continues to show one of the world’s highest crypto-adoption rates, ranking in the top ten globally, according to Chainalysis. Yet trading remains legally unrecognized, leaving investors without protection under national financial law. Related: UAE Dominates Global Crypto Adoption, Vietnam Surges to Second Analysts believe the pilot could mark the first major step toward regulated crypto trading and pave the way for licensed platforms that meet tax and reporting standards. Experts Call It a Measured Path to Legitimacy Local economists said the cap of five exchanges demonstrates Vietnam’s cautious but deliberate approach. Financial analyst Phan Dung Khanh told state media that the program would help “offer safe and legal trading platforms for retail investors” once compliance rules are clear. Observers say a tightly supervised sandbox could help Vietnam avoid…
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BitcoinEthereumNews2025/10/08 04:50
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