Singapore attempted to avoid responsibility for regulating Three Arrows Capital’s cryptocurrency activities, despite revealing it had been researching the company for a year.
The managing director of Singapore’s Monetary Authority, Ravi Menon, refuted recent accusations that crypto hedge fund Three Arrows and other under-fire businesses were even headquartered in Singapore.
“Some crypto players that have come under strain have been reported by the media as being Singapore-based,” he said. “In reality, these … crypto firms have little to do with crypto-related regulation in Singapore.”
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