The Dubai Financial Services Authority announce this embattled crypto fund has not arranged a store in the Emirate, despite stated proposals.
Many days ago in April, Three Arrows Capital’s Su Zhu announced his company’s office was going to Dubai to start a new $5 billion account, illustrating a friendlier regulatory atmosphere than Singapore.
But a lot has occurred as long as, there’s no proof to indicate that the embattled crypto fund has generated decent on its lawsuit that it is going away from the Lion City.
“We can confirm that Three Arrows Capital is not a DFSA authorized firm and is not regulated by the DFSA,” a representative for the Dubai Financial Services Authority said CoinDesk via email.
In Singapore, Three Arrows Capital is governed by the Monetary Authority of Singapore. It would be wanted that the corporation would investigate registration as a fund with the DFSA if it was looking to reproduce its Singaporean struct in Dubai.
To perform financial assistance in or from the Dubai International Financial Centre (DIFC) – a goal-created financial free business zone-entities have to investigate approval from the DFSA, based on the regulator’s website.
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