Hedge fund Three Arrows Capital (3AC) is not registered with the Dubai Financial Services Authority (DFSA), although it previously stated thatplans to move its headquarters to the emirate. CoinDesk writes about this with reference to a representative of the department.
“We can confirm that Three Arrows Capital is not an authorized firm and is not regulated by the DFSA,” the Authority said.
In May 2022, 3AC co-founder Su Zhu said the fund plans to move its headquarters from Singapore to Dubai. Among the reasons, he cited a more favorable regulatory environment.
Zhu's Twitter profile also lists Dubai as his location.
Data: Twitter.
In Singapore, 3AC is overseen by the Monetary Authority (MAS). To organize a business in the emirate, the company had to submit a corresponding application to the DFSA.
How Celsius, 3AC and stETH problems will affect the price of Ethereum and the cryptocurrency market
Recall, co-founder of Three Arrows Capital Kyle Davis said that the hedge fund is considering selling part of the assets to save itself.
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