Dubai’s Virtual Assets Regulatory Authority (VARA) issued cease-and-desist orders and accompanying fines to seven entities for operating without the required licenses and breaching marketing regulations.
The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 10, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
The news is in line with the ongoing trend that’s hit the Ethereum scaling world since the end of 2023: giant and familiar crypto exchanges launching their own layer-2 networks.