The head of Dubai Virtual Asset Regulatory Authority resigned, and more than a dozen cryptocurrency companies may face fines

Binance News · 2023-11-16T11:05:40.000Z

According to Foresight News, Henson Orser, the head of the Dubai Virtual Assets Regulatory Authority, has resigned after less than a year on the job and will be replaced by Matthew White, a PwC partner who previously served as an advisor to VARA. Henson Orser resigned for personal reasons, according to people familiar with the matter. Additionally, Dubai regulators are preparing to fine more than a dozen cryptocurrency companies for failing to comply with its guidelines by the November 17 deadline, and it is unclear which companies will be fined.

According to Foresight News, Henson Orser, head of the Dubai Virtual Asset Regulatory Authority, has resigned less than a year after taking office and was replaced by Matthew White, a PwC partner who served as an advisor to VARA. According to people familiar with the matter, Henson Orser resigned for personal reasons. In addition, Dubai regulators are preparing to fine more than a dozen cryptocurrency companies that failed to comply with their guidelines before the November 17 deadline. It is not clear which companies will be fined.