Dubai Regulator Warns KuCoin Is Operating Without a License, Orders Services Halted

The Dubai Virtual Assets Regulatory Authority, or VARA, regulates virtual-asset activities in Dubai outside the Dubai International Financial Centre under Dubai Law No. 4 of 2022. That law and Cabinet Decision No. 111 of 2022 require operators to obtain authorization before conducting such activities. The case raises questions over whether offshore exchanges may directly solicit local residents and highlights the asset and legal risks consumers face when using unregulated platforms.

On March 5, 2026, VARA named four KuCoin entities that it said had offered or promoted virtual-asset services to Dubai residents without holding any VARA license and appeared to have misrepresented their licensing status. The regulator ordered an immediate halt to all unauthorized activities and warned that none of KuCoin’s promotions, advertising or solicitation had been approved. The notice did not disclose any fine.