The Virtual Assets Regulatory Authority (VARA) has issued a warning about MKAN Coin DMCC for advertising virtual asset activities without the necessary regulatory approval in the UAE. VARA has instructed the company to stop unlicensed operations and imposed a fine. MKAN Coin's activities pose financial risks and potential legal consequences for users. VARA has not approved any promotions or advertisements related to MKAN Coin, making it illegal for the company to offer or market virtual asset products or services in Dubai.



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