The Dubai Virtual Asset Regulatory Authority (VARA) has issued a market alert against KuCoin, citing the exchange's provision of virtual asset services to Dubai residents without the necessary regulatory approvals. VARA has ordered KuCoin to cease all unlicensed activities, emphasizing that the exchange does not hold any licenses to operate in Dubai. The regulator warns that unlicensed operations pose significant financial risks and legal consequences for consumers. Under Dubai law, virtual asset service providers must obtain a license to operate legally within the jurisdiction.