Dubai's supervisory authority blamed opnx founder for carrying out unregulated activities
Dubai's supervisory authority blamed opnx founder for carrying out unregulated activities
opnx - the project, which was launched by the founders of the no longer existing hedge fund Three Arrows Capital (3AC) - was controversial from the start. The stock exchange was now reprimanded for unregulated activities.
Dubais Virtual Assets Regulatory Authority (Vara) has given five OPNX founders, including Kyle Davies and SU ZHU, a written reference because they have provided and did marketing for the exchange of virtual assets in and out of the Emirat Dubai Services. Promotion and/or advertising for opnx services and its native tokens (Flex) without the necessary permits of the regulatory authority.
opnx under the supervisory authority of Dubai
According to an official update, Vara said that it became aware that OpnX request personal data from the public and raise to take part in his new exchange. It also added that the platform was involved in marketing the stock exchange to set up justified restrictions for the Dubai residents and the United Arab Emirates (VAE).
After investigations into opnx, the authorities issued two injunctive reliefs before the start. A week after the official introduction of opnx Vara warned the investors that the platform was not regulated.
"Vara points out that certain restrictions for residents of Dubai/VAE were subsequently applied on the OpnX website. However, such restrictions were not extensively applied to all OPNX communication channels or advertising and marketing materials-which were consequently accessible to residents of the VAE."
The regulatory authority currently monitors the situation and examines the activities of OpnX to assess further correction measures as a result of the "persistent lack of satisfactory remedial measures" by the operators of the cryptoplage.
heated dispute with "investors"
Several community members have expressed their frustration through the new project, especially because it was founded by the same people who founded the now failed crypto hedge funds 3ac. Last month opnx identified its sponsors, sig), nascent, nascent, Appworks, DRW, Miax Group, Merchant Bank International, Token Bay Capital and Tuwaiq are.
However, the supposed investors have contested to participate in the platform's financing round or to be connected to it at all. Nascent was the first to clap and contest every belonging, followed by DRW Trading, Appworks from Taiwan and Susquehanna.
The rejections requested Sharmed statements of CEO Leslie Lamb, who accused the "investors" ugly tactics.
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