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Dubai’s Crypto Regulator Alerts Investors on New Memecoins Flooding Market
Dubai's crypto regulatory body has issued an alert about the risks related to memecoin investments owing to their increasing market penetration. The Virtual Assets Regulatory Authority (VARA) of Dubai has strictly asked the city's investor community to be cautious while engaging with memecoins, calling them “highly speculative” assets. As per VARA, memecoins pose a significant risk of financial loss to those who engage with it. Earlier this month, the commissioner of the US SEC had also highlighted the possibility of memecoins promising high returns in a short span of time being scam tokens. VARA was established ... (full story)
