According to a report by Bloomberg, the Dubai Virtual Assets Regulatory Authority has indicated that in the latest enforcement action against OPNX, a newly established digital asset trading platform founded by co-founders of the bankrupt Three Arrows Capital, a fine of 10 million dirhams (approximately 2.7 million USD) was imposed on the company in May, but remains unpaid.
Furthermore, the regulatory body in Dubai has stated that Su Zhu and Kyle Davies, along with the two co-founders of OPNX, have been individually fined 200,000 dirhams (approximately 54,451 USD) for non-compliance with marketing, advertising, and promotional rules.