To verify a crypto exchange is VARA licensed, go to the Virtual Assets Regulatory Authority's own public register, not the exchange's website, and search the exact legal entity name. Confirm four things: the entity name matches the one in the platform's terms of service, the licence covers the specific activity you will use, such as exchange services or custody, the licence is active and full rather than provisional, and the licence belongs to the UAE entity you are contracting with, not an offshore affiliate with a similar name. If any of the four fails, you are not dealing with the licensed firm.
The four point check
First, source: use VARA's own public register. Screenshots, badges and press releases on the platform's site prove nothing. Second, entity: match the exact legal name in the register to the legal name in the platform's terms of service, because groups often run many entities and only one is licensed. Third, activity: VARA licenses exchange, broker dealer, custody, advisory, management and transfer services separately, so confirm the activity you will actually use is on the licence. Fourth, status: distinguish a full operating licence from an initial or provisional approval, which does not permit the full service.
The trick that catches most people
The most common trap is the affiliate switch: the group holds a genuine VARA licence in one entity, while your account agreement is with a different entity offshore, often in a lighter jurisdiction. Your legal counterparty is whoever is named in the terms of service. If that entity is not the licensed one, the VARA licence you saw in the marketing does not protect you. Read the terms of service before funding the account, and match the entity name character by character.
Claims that do not count
Registered in Dubai is a trade licence, not a VARA licence. Partnered with a licensed firm is not a licence. Applied for a licence is not a licence. Regulated in another jurisdiction may be true and still irrelevant to your UAE protection. The only claim that counts is the named entity, on the named register, for the named activity, with an active status, and every part of that is checkable in minutes.
How GCI helps you screen a virtual asset venture
Gulf Commercial Insights does not provide investment advice and does not recommend, rate or endorse any cryptocurrency, token or virtual asset. What GCI screens is the venture behind the proposition: the platform, the exchange, the fund structure or the operating business asking for your capital. The conviction engine checks the licensing claims against the named regulator, tests the business model and the stated metrics against evidence, and flags every figure that is assumed rather than proven. You get back a private, source-graded verdict, given only inside your own report, with each claim tagged VERIFIED, ESTIMATED or REPORTED. The GCI verdict system page explains how verdicts work.
For anyone evaluating a crypto exchange or platform, that answers the three questions that matter:
- Is the entity actually licensed for the activity it is offering, and by which regulator?
- Do the claimed volumes, custody arrangements and business metrics stand up to evidence?
- What should you confirm in writing before you transfer any funds?
Verify first, commit second. We are a technology and research firm, not a DFSA-regulated financial services firm and not a VARA licensed virtual asset service provider.
Frequently asked questions
How do I check if an exchange is VARA licensed?
Search the exact legal entity name on VARA's own public register, then confirm the licence covers the activity you will use, is active and full rather than provisional, and belongs to the same legal entity named in the platform's terms of service.
What activities does a VARA licence cover?
VARA licenses activities separately: exchange services, broker dealer services, custody, advisory, management and investment services, and transfer and settlement services. A firm licensed for one is not automatically licensed for the others, so match the licence to the service you will actually use.
Does a Dubai trade licence mean an exchange is regulated?
No. A trade licence permits a company to exist and operate commercially. Only a licence from VARA, or the DFSA in DIFC, or the FSRA in ADGM, authorises virtual asset activities. Registered in Dubai is not the same as regulated in Dubai.
What if my account is with an offshore entity of a licensed group?
Then your protection is whatever the offshore jurisdiction provides, which is often little. The VARA licence protects clients of the licensed UAE entity. Check the terms of service to see which entity you are actually contracting with before you fund an account.
Evaluating a crypto exchange or platform?
Start with a free Deal Health Score on the specific venture, then get the full Conviction Report with a clear verdict and evidence-tiered findings, priced to your mandate. See the public record of past verdicts first.