
Dubai cancels FTX MENA’s license following the collapse of the crypto exchange
No clients were exposed, according to Dubai regulators, as FTX MENA was still in the planning stages before receiving full operating approval. The Dubai Virtual Assets Regulatory Authority (VARA) has suspended the license that allows FTX to make plans to serve the local market following the collapse of the crypto exchange giant. In the announcement, VARA stated on its official website that it had revoked the license for FTX MENA’s Minimum Viable Product (MVP). VARA confirmed that the license of FTX MENA was suspended prior to any clients being made aware of it, citing the bankruptcy filing of FTX-related companies