According to Dubai’s financial regulator, 19 digital asset companies have been fined for non-compliance, coinciding with the approval of BitGo’s MENA entity amid stricter oversight.
Dubai’s financial regulator announced the issuance of penalties against 19 firms engaged in digital asset activities for operating without licenses and violating marketing rules. The enforcement coincided with regulatory approval for BitGo’s Middle East and North Africa (MENA) entity, signaling a dual approach of sanctioning unlicensed operators while supporting compliant institutional entrants. The regulator stated that fines of up to $163,000 were imposed to reinforce adherence to Dubai’s crypto compliance framework.