This Week In Crypto Asia: UAE Enhances Crypto Crypto law, India Targets Crypto Fraudsters

As another week wraps up, significant transformations have occurred in the Asian crypto scene. From changes in regulations to intensifying efforts against crypto fraudsters and capital accumulation, numerous developments took place this week in the Asian crypto ecosystem. Here are the three main highlights.

UAE’s VARA and SCA Collaborate for Improved Crypto Regulations

Making waves from West Asia, the Virtual Assets Regulatory Authority (VARA) of Dubai and the UAE’s Securities and Commodities Authority (SCA) have joined forces to align their strategies regarding crypto regulation.

The regulatory entities formalised their collaboration following their announcement to work in tandem in September of the previous year.

As per an article published on 7 August 2025, this alliance will enable licenses issued in Dubai to operate across the entire UAE. The article cites a VARA representative stating, “Essentially, the 2024 MOU was a preliminary step. The present strategic alliance represents its official and functional rollout.”

Though the agreement enables mutual license acceptance between the SCA and VARA, it does not facilitate automatic passporting between jurisdictions. In simple terms, a VASP (Virtual Asset Service Provider) license granted by either authority is recognized by the other only after fulfilling specific coordination protocols and regulatory examinations.

The UAE has established a cohesive regulatory framework for virtual assets through a deal between the Securities and Commodities Authority (SCA) and VARA of Dubai .

This initiative aims to foster innovation , enhance oversight , and expand the… pic.twitter.com/WQIjYZ3I4m

— Vishal Techzone (@VishalSahu21) August 8, 2025

The publication quoted an industry expert stating, “This encompasses AML (Anti-Money Laundering)/CFT (Combating the Financing of Terrorism) evaluations, operational readiness, and supervisory uniformity, ensuring that national safety and regulation measures are maintained effectively.”

Moreover, the strategic alliance has rolled out a standardized VASP registration framework, mutual license acceptance, real-time data trading protocol, cooperative oversight protocols, and cross-border AML coordination.

Additionally, a newly established Legislative Review Committee, sanctioned by the SCA, will collaborate with VARA to ensure that the UAE’s crypto regulations align with international standards.

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MEXC Expands Into Asian Market with $200M Investment in Triv

In a bid to strengthen its presence in Southeast Asia, MEXC has invested $200 million in Triv, one of Indonesia’s oldest digital asset exchanges, which caters to over 3 million users.

Triv, regulated by Indonesia’s Financial Services Authority (OJK) and the Commodities Futures Trading Regulatory Agency (BAPPEBTI), provides spot, earning yield, and futures trading options.

Operating in a highly competitive market, it goes head-to-head with Tokocrypto, backed by Binance; Pintu, supported by Pantera Group; and Indodax.

Furthermore, Triv is facing competition from new entrants like Hong Kong’s OSL Group, which acquired local company Evergreen Crest Holdings for $15 million in June this year.

MEXC Ventures is going all-in on Indonesia’s Triv, with a valuation of $200M. Asia expansion mode: activated

— CryptoSangeet (@CryptoSangeet) August 7, 2025

Notably, this deal, confirmed on 5 August 2025, coincided with the rollout of Indonesia’s revised crypto tax regulations, which took effect on 1 August, imposing a 0.21% tax on users of domestic exchanges, a considerable increase from the prior rate.

For those unfamiliar with the Indonesian crypto arena, crypto is accessible to domestic investors solely for investment purposes. Direct payments using crypto are not allowed, compelling investors to resort to foreign platforms.

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India Intensifies Action: ED Conducts Nationwide Raids Linked to $29M Crypto Scam

The Enforcement Directorate (ED) of India executed raids at 11 locations across several cities, including Delhi, under the PMLA (Prevention of Money Laundering Act), targeting an international crypto scam network.

The raids, carried out on 6 August 2025, were prompted by FIRs (First Information Reports) lodged by the Central Bureau of Investigation (CBI) and the Delhi Police.

According to a report from a local source dated 6 August 2025, the fraudsters impersonated law enforcement and investigative officials to exploit both domestic and international victims.

JUST-IN:

India Freezes ₹42.8 Cr in Assets Linked to $20M Coinbase Scam Suspect

Chirag Tomar, currently in U.S. custody, operated a counterfeit Coinbase site that duped users through SEO and deceptive base level numbers — siphoning off over $20M in crypto.

The ED has seized 18 properties & numerous bank… pic.twitter.com/uZzwqvVuin

— Creatooor (@Creatooors) August 7, 2025

Reportedly, the scammers employed threats of arrest and legal action to coerce victims into transferring funds.

Additionally, they masqueraded as customer base level representatives for companies like Microsoft and Amazon, utilizing social engineering techniques to trick victims into relinquishing their funds. Investigations have uncovered that the accused raked in $29 million in Bitcoins through this scheme.

Authorities indicate that the scammers converted their Bitcoins into cash using USDT and subsequently channeled the proceeds through various hawala networks based in the UAE.

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