The head of Dubai's cryptocurrency regulatory agency has resigned, and over 12 cryptocurrency companies have been fined for failing to comply with relevant guidelines

ChainCatcher news, according to Bloomberg, the Virtual Assets Regulatory Authority (VARA) stated in an email that the position of CEO of the Dubai cryptocurrency regulator Henson Orser will be succeeded by PwC partner Matthew White.

In addition, Bloomberg cited anonymous sources saying that more than 12 cryptocurrency companies will be fined for failing to comply with relevant guidelines before the November 17 deadline. The names of these companies were not mentioned, but they do not include Binance, OKX, or ByBit and some other companies, which will have more time to comply with the regulations.