TechFlow reported, according to Bloomberg, the Dubai Virtual Assets Regulatory Authority stated that in a recent enforcement action against OPNX, a digital asset trading platform founded by the co-founders of the bankrupt crypto hedge fund Three Arrows Capital, the company was fined 10 million AED (2.7 million USD) in May, but the penalty remains unpaid.
In addition, Dubai regulators said Su Zhu and Kyle Davies, along with the two co-founders of OPNX, were each personally fined 200,000 AED (54,451 USD) for failing to comply with marketing, advertising, and promotion rules.
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