Dubai’s Top Crypto Official Set to Leave, Regulator Plans Fines - Bloomberg
The head of Dubai’s crypto regulator is poised to depart after less than a year on the job, just as authorities prepare to impose sweeping fines on non-compliant digital-asset firms operating in the emirate.
Henson Orser, who’s run the Virtual Assets Regulatory Authority since January, will be replaced by Matthew White, a partner at PwC who has worked with VARA as a consultant, the regulator said in a statement to Bloomberg News on Thursday. Orser is stepping down for personal reasons, according to people with knowledge of the matter.
The leadership change comes just as the Dubai regulator prepares to levy fines on more than a dozen crypto companies that have failed to comply with its guidelines by a Nov. 17 deadline, some of the people said, asking not to be identified discussing a private matter. It wasn’t immediately clear which firms will be fined.
Orser wasn’t immediately available for comment. VARA declined to comment on the planned fines.
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