VARA says 18 licensed virtual asset service providers have so far been issued fines for failing to comply with its directives and regulatory guidance.
- Enforcement actions are a prerequisite to remedy compliance breaches, VARA tells Bloomberg News in a statement
- Warns of additional fines, enforcement actions if regulatory gaps are not actively addressed by year end
- NOTE (Nov. 16):
VARA poised to levy fines on over a dozen crypto firms
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