Three Arrows Capital to Move to Dubai amid Regulatory Scrutiny from Singaporean Officials

Coindesk | Tracy Wang | Apr 28, 2022

NASSAU, BAHAMAS — Crypto trading and venture capital firm Three Arrows Capital is moving its headquarters from Singapore to Dubai, United Arab Emirates.

The planned move comes as Three Arrows Capital organizes its first-ever fund that would take capital from external investors, according to sources familiar with the matter.

See:  Singapore Tights Crypto Regs: Passes The Financial Services And Markets Bill To Address Key Risks

Three Arrows Capital is the latest crypto giant to eye the Middle East as the regulatory climate in Singapore appears to have soured.

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, has begun cracking down on crypto activity, adding several crypto firms to its Investor Alert List (IAL).

The MAS describes the list as “unregulated persons who, based on information received by MAS, may have been wrongly perceived as being licensed or regulated by MAS.”

“For a while, Singapore was making pro-crypto decisions, but now something’s changed course,” said Kyle Samani, founder of the crypto venture capital firm Multicoin Capital, on the trend towards Dubai.

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