Crypto Scoop : Crypto Exchange BitOasis in Dubai Faces License Suspension 😮
Dubai's cryptocurrency regulator, VARA, has taken a stern action against BitOasis, suspending its license due to the exchange's failure to meet mandated conditions within the specified timeframes. 😱 The conditional license, granted on April 12, required BitOasis to fulfill certain key conditions, which unfortunately weren't met according to VARA. As a result, BitOasis' license for institutional and qualified retail investors is now declared "non-operational," leaving crypto enthusiasts scratching their heads. 🤔 Stay tuned as BitOasis works to rectify the situation and get back on track for a full market product license, with VARA keeping a close eye on their regulatory compliance journey. 💪