Dubai Orders MEXC and KuCoin to Cease Unlicensed Trading

Dubai's financial regulator has issued warnings to crypto exchanges MEXC and KuCoin, demanding they stop unlicensed activities in the emirate. This move follows increased scrutiny on regional exchanges, particularly due to concerns that they may be facilitating Iran in evading U.S. sanctions. The regulator’s action comes amid a broader initiative to ensure compliance among crypto platforms operating in Dubai. Authorities are being vigilant in monitoring the activities of exchanges to prevent illegal financial transactions. As a result, exchanges are urged to adhere to licensing requirements to operate legally in the region.

Crypto