The Virtual Assets Regulatory Authority (VARA) of Dubai has reportedly suspended the licence of crypto exchange BitOasis, citing unmet mandated conditions within the prescribed timeframes. BitOasis had been granted a conditional minimum viable product (MVP) operational licence on 12 April to offer broker-dealer services to Dubai’s institutional and retail investors, provided that they fulfilled specific requirements within 30 to 60-day timeframes. BitOasis’ license will remain non-operational until it meets the conditions. VARA said it would closely monitor BitOasis’ compliance efforts.