Crypto Scoop : Crypto Exchange BitOasis in Dubai Faces License Suspension ๐ฎ
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. ๐ฑ 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. ๐ค 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. ๐ช