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This Week In Crypto Asia: UAE Streamlines Crypto Oversight, India Cracks Down On Crypto Scammers

Adam Forsyth
August 10, 2025
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Another week has come to a close, bringing massive changes to the Asian crypto landscape. From regulatory changes and bringing the heat to crypto scammers to raising capital, a lot has happened this week in the Asian crypto landscape. Here’s the top three rundown.

UAE’s VARA And SCA Unite To Streamline Crypto Regulations

Coming in hot from West Asia, Dubai’s Virtual Assets Regulatory Authority (VARA) and the UAE’s Securities and Commodities Authority (SCA) have collaborated to harmonise their approach towards crypto regulation.

The regulatory bodies formalised their partnership after declaring their intention to work together in September last year.

According to an article published on 7 August 2025, the partnership will allow Dubai-based licenses to service the entirety of the UAE. The publication quotes a VARA spokesperson stating, “In essence, the 2024 MOU was a starting point. The current partnership is its formal and functional implementation.”

While the agreement introduces mutual license recognition between the SCA and VARA, it stops short of offering automatic passporting across jurisdictions. In layman’s terms, a VASP (Virtual Asset Service Provider) license issued by either of the two authorities is acknowledged by the other, but only after meeting coordination protocols and regulatory checks.

The publication quoted an industry insider stating, “This includes AML (Anti-Money Laundering)/CFT (Combating the Financing of Terrorism) assessments, operational readiness, and supervisory alignment, ensuring that national security and compliance standards remain robust.”

Further, the partnership introduced a unified VASP registration framework, mutual license recognition, real-time data sharing, joint supervision protocols and cross-jurisdictional AML coordination.

Additionally, a newly formed Legislative Review Committee, approved by the SCA, will collaborate with VARA to align the UAE’s crypto regulations with global standards.

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MEXC Expands Into Asian Crypto Landscape By Backing Triv At $200M Valuation

To expand its foothold in Southeast Asia, MEXC has invested $200 million in Triv, one of Indonesia’s longest-running digital asset exchanges, serving over 3 million users.

Registered under Indonesia’s Financial Services Authority (OJK) and the Commodities Futures Trading Regulatory Agency (BAPPEBTI), Triv offers spot, staking, and futures trading.

It competes in a red ocean market, battling Tokocrypto, backed by Binance, Pintu, backed by Pantera Group and Indodax.

In addition to this, Triv faces pressure from newcomers such as Hong Kong’s OSL Group, which acquired the local firm Evergreen Crest Holdings for $15 million in June of this year.

Interestingly, the deal, confirmed on 5 August 2025, coincided with the implementation of Indonesia’s updated crypto tax rules that came into effect from 1 August, enforcing a 0.21% tax on domestic exchange users, a sharp uptick from the previous rate.

For those unfamiliar with the Indonesian crypto market, crypto is open to domestic investors for investment purposes only. Payments via crypto are not permitted, forcing investors to, in turn, look at foreign platforms.

However, here too, the tax authorities have increased the seller tax from 0.2% to 1%, and now miners will face a 2.2% VAT, which the government will tax at standard income rates after it phases out the ongoing 0.1% mining tax by 2026.

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India Turns On The Heat: ED Conducts Nationwide Raids In Connection With $29M Crypto Scam Network 

The Enforcement Directorate (ED) of India raided 11 locations across multiple cities, including Delhi, under the PMLA (Prevention of Money Laundering Act), in connection with an international crypto scam network.

The raids conducted on 6 August 2025 were based on FIRs (First Information Report) filed by the Central Bureau of Investigation (CBI) and the Delhi Police.

According to a report by a local publication dated 6 August 2025, the scammers impersonated law enforcement and investigative agencies to target domestic as well as international victims.

Reportedly, the scammers threatened arrests and legal actions to coerce the victims into transferring funds.

In addition to this, the scammers also posed as support staff from companies such as Microsoft and Amazon, socially engineering their victims to part with their funds. Investigation into this matter has revealed that the accused amassed $29 million in Bitcoins through this operation.

Authorities reveal that the scammers converted the Bitcoins into cash via USDT and subsequently funnelled the proceeds through multiple hawala networks based in the UAE.

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Key Takeaways

  • UAE’s VARA and the SCA have partnered up to streamline regulatory oversight, allowing Dubai-based licenses to service the UAE in its entirety
  • MEXC has expanded into Southeast Asia through a $200m investment in Triv, Indonesia’s longest-running digital asset exchange
  • India’s ED raided 11 locations across multiple cities to nab an international crypto scam ring that amassed $29m through illicit activities

The post This Week In Crypto Asia: UAE Streamlines Crypto Oversight, India Cracks Down On Crypto Scammers appeared first on 99Bitcoins.





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