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On June 22, 2026, the Virtual Assets Regulatory Authority (VARA) issued a Notice of Fines against CoinMENA FZE (Ref: VL/23/09/001), a virtual asset service provider licensed to conduct VA Broker-Dealer Services. CoinMENA received its Virtual Asset Service Provider Licence on November 30, 2023. Following ongoing supervisory inspections covering full market operations from inception through the 2025 financial year, VARA identified administrative issues with CoinMENA's internal systems and controls that resulted in compliance failures relating to its anti-money laundering (AML) programme. In response, VARA imposed a financial penalty against CoinMENA. VARA emphasised that CoinMENA cooperated fully throughout the enforcement process, providing all necessary information to the regulator, accepting the identified findings, and implementing a coordinated remediation plan to strengthen its assurance standards. This enforcement action reflects VARA's commitment to maintaining robust compliance standards among virtual asset service providers operating in Dubai. The notice has been published to provide market awareness and consumer information regarding VARA's supervisory and enforcement activities. VARA stated that the notification does not constitute professional or legal advice and does not substitute for investors' own due diligence. Virtual asset service providers should ensure their internal systems and controls, particularly those related to AML compliance, meet VARA's regulatory requirements. The enforcement notice is available on VARA's website alongside other regulatory notices issued by the authority.