According to Bloomberg, Dubai is reprimanding BitOasis one of the largest crypto platforms focused on customers in the Middle East, for failing to meet mandated conditions set forth by the local regulator. 

The emirate’s Virtual Assets Regulatory Authority issued a market alert on Monday, saying it had initiated an enforcement action against the crypto exchange.“BitOasis is under review for not meeting mandated conditions, required to be satisfied within 30-60 day timeframes prior to being permitted to undertake any VARA regulated market activity,” the regulator said in the alert.