Dubai’s VARA Fines Morpheus for AML and Internal Compliance Failures

Dubai’s virtual asset regulator has taken enforcement action against a local blockchain company, Morpheus Software Technology (also known as Fuze), finding it guilty of violating its operating license. According to the Virtual Assets Regulatory Authority (VARA), an investigation that began in mid-April 2025 found that Fuze had conducted ‘unlicensed virtual asset activities,’ failed to implement […] The post Dubai’s VARA Fines Morpheus for AML and Internal Compliance Failures appeared first on Coin Edition.