UPDATE: CONCLUSION OF THE VIRTUAL ASSETS REGULATORY AUTHORITY (VARA) INQUIRY ON ISLAMIC COIN.

Activities under investigation by VARA have now concluded, as released in a statement by VARA on 16 November.

Matters identified during the investigation have been actively addressed by Bored Gen DMCC, the main developer responsible for the core of Haqq Network's software infrastructure.

BG is required to secure appropriate approvals from VARA to undertake any distribution of ISLM to the Dubai market.

Islamic Coin and HAQQ Network are committed to transparency and are on track with regulatory standards.

Activities for the Dubai market will be conducted in strict collaboration with VARA. $BTC $ETH