The founders of the collapsed digital asset hedge fund Three Arrows Capital (3AC) Kyle Davies and Su Zhu are now facing a fine issued by Dubai’s dedicated crypto regulator over the OPNX exchange.
On Aug. 16, Dubai’s Virtual Asset Regulatory Authority (VARA) published a notice of fines for the OPNX exchange. The regulator said that it has issued a fine of 10 million United Arab Emirates dirhams (around $2.7 million) for violations of its market regulations and noted that the fine remains unpaid.
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