Dubai’s VARA CEO Henson Orser Steps Down Amid Crypto Crackdown
The head of the Virtual Assets Regulatory Authority (VARA) in the United Arab Emirates, Henson Orser, has announced his resignation as the authority prepares to impose penalties on non-compliant cryptocurrency firms. Orser, who took over as CEO in January, has been instrumental in implementing new regulatory frameworks for cryptocurrencies, particularly following the FTX collapse last year.
His departure will make way for Matthew White, a partner at PwC and current consultant to VARA, to take over the leadership role. Under Orser’s guidance, VARA has introduced new regulations for virtual asset management in Dubai starting in early 2023.
Despite the impending fines for non-compliant firms, major exchanges like Binance, Bybit, and OKX have been given additional time to meet the requirements for comprehensive licensing.
Hot Take: Preparing for Change in Dubai’s Crypto Landscape
Henson Orser’s resignation signals a shift in Dubai’s approach to cryptocurrency regulation. As Matthew White steps into his new role, we can expect continued efforts to enforce compliance and ensure a secure and transparent crypto landscape in the UAE.
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