Dubai's Virtual Assets Regulatory Authority issued an alert that BitOasis was "under review for not meeting mandated conditions". In April, BitOasis received the first "MVP Operational License" issued under a new regulatory regime in Dubai, but has apparently already fallen out of compliance. VARA warned that further enforcement actions could follow, including rescinding the license.
BitOasis wrote on their website that the license had in fact been suspended, but stated that they had not begun offering services to the segments covered by the license (institutional and qualified investors).
BitOasis is among the most popular crypto exchanges in the Middle East and North Africa (MENA) region.